Shares of state-run Bharat Heavy Electricals Ltd (BHEL) jumped as much as 4% on Friday, March 21, after the company informed the exchanges about getting a big order.
BHEL, in its filing to the exchanges, said it has received an order worth ₹7,500 crore from Gujarat State Electricity Corporation Ltd (GESCL) for the EPC package for the 1×800 MW Ukai Extension Unit 7 in Tapi district of Gujarat.
The scope of the order includes supply, erection and commissioning of equipment, boilers, turbines, generators and related ancillary equipment as well as civil works.
The order has been won through an international competitive bidding process and is to be executed within the next 54 months.
Last month, BHEL had announced winning a ₹6,700 crore order from Singareni Collieries to set up an 800 MW thermal power unit in Telangana. In the same month, the company had also won a ₹6,200 crore order from Damodar Valley Corporation.
Out of the 17 analysts covering BHEL, eight have a “sell” rating on the stock, seven of them have a “buy” while two of them have a “hold” rating.
BHEL shares are currently trading 3% higher at ₹212.69. The stock is recovering from its 52-week low of ₹176. The stock has gained 8.3% in the last one month.
Despite this recovery, BHEL shares are still trading 37% below its 2024-peak of ₹2024.
