PSU Engineering Co Bags 4000 Cr Order From Adani Subsidiary, Shares Hit Upper Circuit

Shares of large cap public sector undertaking operating in engineering sector, Bharat Heavy Electricals Ltd on Tuesday hit upper circuit after it bagged order worth Rs 4000 crore from Adani Power Ltd subsidiary Mahan Energen Limited, previously known as Essar Power MP Limited. BHEL shares gained 10% in trade today with last trading price at Rs 111.05 apiece. Check details below:

BHEL Wins 4000 Crore Order: According to the BSE filing of BHEL dated August 21, "Bharat Heavy Electricals Limited (BHEL) has received an order from Mahan Energen Limited (formerly known as Essar Power MP Limited), a wholly owned subsidiary of Adani Power Limited."

BHEL will supply equipment like boiler, turbine, generator and provide supervision of erection & commissioning for 2x800 MW power project based on supercritical technology at Bandhaura, Madhya Pradesh.

BHEL said, "Boiler and Turbine Generator are to be manufactured at BHEL's Trichy and Haridwar plants respectively." Supply of Unit-1 is expected to take 31 months and Unit-2 is likely to take 35 months when the order will be executed.

BHEL Stock Performance & Return: Last trading price of BHEL is Rs 111.05 apiece with intraday gain of 10.11%. Its 52-week high price is Rs 112.75 apiece and 52-week low price is Rs 51.80 apiece, respectively. The company has a market capitalisation of Rs 38,668.31 crore. BHEL shares jumped 40% in last 3-months, soared 39% YTD, gained 112% in last 1-year, and 173% in last 3-years.

BHEL Dividend: The company announced 0.40 per share dividend for the financial year 2022-23 and fixed August 11, 2023 as the record date. The dividend, if approved by the members at the ensuing 59 th Annual General Meeting (to be held on 24th August, 2023), will be paid within 30 days from the date of declaration of dividend i.e. on or before 22nd September, 2023."

BHEL About: BHEL is India's largest engineering and manufacturing enterprise in the energy and infrastructure sectors. Established in 1964, we are a leading power equipment manufacturer globally and one of the earliest and leading contributors towards building an Aatmanirbhar Bharat, according to its official website.