BHEL New Delhi/IBNS: Shares of Bharat Heavy Electricals Limited (BHEL) rose 3 percent to Rs 274 in Monday’s (Sept. 23) trading on the BSE after the company bagged a Rs 6,100 crore order from the National Thermal Power Corporation (NTPC).
In a regulatory filing, BHEL announced, "Bharat Heavy Electricals Limited (BHEL) has received a Notification of Award (NOA) from NTPC Limited for the 1x800 MW Sipat Supercritical Thermal Power Project Stage-III."
The contract, worth more than Rs 6,100 crore (excluding GST), entails extensive engineering, procurement, and construction (EPC) work.
This includes the supply of equipment, installation, commissioning, and civil works, significantly enhancing BHEL's project portfolio.
Won through international competitive bidding, the contract encompasses the full scope of equipment supply, installation, and civil works.
The project is expected to be completed within 48 months from the date of the award notification.
This latest contract follows another major win in August, when BHEL secured deals totaling over Rs 11,000 crore with Adani Power and its subsidiary, Mahan Energen, for three supercritical thermal power projects, each rated at 2×800 megawatts, located in Rajasthan's Kawai, and Mahan in Madhya Pradesh.
Additionally, at the end of July, BHEL obtained a 1,600-megawatt project from the Damodar Valley Corporation (DVC).
This coal-based unit will be constructed in Koderma district, Jharkhand, and will also be executed on an EPC basis.
On Monday morning, BHEL's share price increased by 1.5 percent to Rs 270.15, slightly down from earlier gains of over 2 percent.
The stock has risen over 36 percent this year, according to reports.
Meanwhile, NTPC's share price rose by 0.77 percent to Rs 427.20 on Monday (Sept. 23), with the public sector company having gained over 37 percent this year.
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