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BHEL Shares Rally Over 7% After It Emerges As Lowest Bidder For NPCIL's Project
Shares of Bharat Heavy Electricals Ltd (BHEL) surged by over 7% in early trade on Thursday (March 18, 2021) to day's high of Rs. 53.8 versus its earlier closing price of Rs. 50.1 apiece on the NSE. The surge in stock price is seen after BHEL said that the company came out as the lowest bidder for a tender floated by Nuclear Power Corporation of India (NPCIL).
In a regulatory filing, BHEL said in an open competitive bidding process, BHEL has emerged as the lowest bidder for Rs 10,800 crore fleet mode tender floated by NPCIL for the 6x700 MW Turbine Island package projects.
With this, BHEL continues to be the market leader as the only Indian supplier of Nuclear Steam Turbines, added the company.
Also, the company said that the Pressurised Heavy Water Reactors (PHWR) remains the core of the Indian Nuclear Power Programme and 12 of the 18 functional PHWRs of NPCIL include BHEL's Steam Turbine Generator sets and the remaining are from Ukraine and Canada.
At around 10:50 am, scrip of BHEL quoted at Rs. 52.25, up 4.29% on the NSE in comparison to an over 0.5% gain on the headline indices.
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