BHEL shares rise 3% on Rs 6,100 crore order from NTPC

Shares of Bharat Heavy Electricals Limited (BHEL) climbed 3% to Rs 274 in Monday’s BSE trading after securing a Rs 6,100 crore order from NTPC.

In a filing, the company stated, “Bharat Heavy Electricals Limited (BHEL) has received a Notification of Award (NOA) from NTPC Limited for the 1×800 MW Sipat Supercritical Thermal Power Project Stage-III.”

BHEL will be responsible for the engineering, procurement, and construction (EPC) work, including equipment supply, erection, commissioning, and civil works for the 1×800 MW Sipat project, expected to be completed within 48 months of the award notification.

As of 10.09 am, the stock was trading 1.4% higher at Rs 270 on the BSE. The stock has delivered multibagger returns, having rallied 117% in the last year and 365% in the last two years.

Last month, the company signed contracts worth over Rs 11,000 crore with Adani Power Ltd. and its subsidiary, Mahan Energen Ltd., to set up three Supercritical Thermal Power projects (each with a 2×800 MW capacity) in Kawai, Rajasthan, and Mahan, Madhya Pradesh.

Earlier in August, the state-owned company secured a 1,600 MW coal-based project from Damodar Valley Corporation (DVC), to be established in Jharkhand’s Koderma district on an Engineering, Procurement, and Construction (EPC) basis.In Q1 FY25, BHEL’s net loss widened to Rs 211 crore from Rs 205 crore in the previous year’s quarter, while revenue from operations rose 9.6% to Rs 5,845 crore.Technically, the stock’s relative strength index (RSI) is at 40.9. According to Trendlyne, an RSI below 30 is considered oversold, while above 70 indicates overbought conditions. Additionally, the MACD is at -9.0, signaling a bearish trend.

The stock is trading above its 5-day, 10-day, and 200-day simple moving averages (SMAs) but below its 20-day, 30-day, 50-day, 100-day, and 150-day SMAs.

BHEL is a leading power plant equipment manufacturer, specializing in the design, engineering, manufacturing, installation, testing, commissioning, and servicing of a wide range of products and services.

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