- Bharat Heavy Electricals Limited ( BHEL ) witnesses a remarkable surge, hitting an over eight-year high of Rs 269.35 on NSE, driven by heavy trading volumes on March 4.
- Trading activity intensified, with a total of 15 crore shares exchanged on BSE and NSE combined, surpassing the one-month average of 4 crore shares.
- The stock’s rally follows the approval by NTPC’s board for a significant investment of Rs 17,195.3 crore in the third phase of the Singrauli Super Thermal Power Project, where BHEL was the sole bidder for construction.
- As of 11:47 am, BHEL was trading at Rs 267.75 on NSE, marking a 13% increase from the previous close.
- BHEL’s stock has seen an impressive surge of over 250% in the past year, significantly outperforming the Nifty’s 26% rise, with a 93% surge in just the last six months.
- Recent positive developments include the signing of a joint venture agreement with Coal India (CIL) to venture into the coal-to-chemicals business, aiming to set up a 2,000 TPD ammonium nitrate plant.
- The joint venture will operate with 51% equity shareholding by CIL and 49% by BHEL, established as a ‘Private Limited’ company with an initial paid-up share capital of Rs 1 lakh.
- BHEL, a prominent player in power and industry segments, offers a diverse range of equipment and services across various sectors, including power generation, transportation, and defense.
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