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BHEL share rises 7% after firm emerges lowest bidder for NPCIL's Rs 10,800-crore tender

BHEL share opened with a gain of 4.59% at Rs 52.40 against previous close of Rs 50.10

twitter-logoBusinessToday.In | March 18, 2021 | Updated 10:39 IST
BHEL share rises 7% after firm emerges lowest bidder for NPCIL's Rs 10,800 crore-tender
BHEL stock touched an intraday high of Rs 53.8, rising 7.39% on BSE

Share of Bharat Heavy Electricals Limited (BHEL) rose over 7% in trade today after the engineering firm said it emerged as the lowest bidder for supply of equipment for 6x700 MW nuclear power projects of Nuclear Power Corporation of India. With this tender, BHEL has retained its market leadership position of being the sole Indian supplier of nuclear steam turbines.

The stock has gained after 2 days of consecutive fall. The share opened with a gain of 4.59% at Rs 52.40 against previous close of Rs 50.10. The stock touched an intraday high of Rs 53.8, rising 7.39% on BSE. The share trades higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages.

The stock has gained 127.93% in one year and gained 48.89% since the beginning of this year. In a month, the mid cap stock has climbed 24%. Market cap of the firm rose to Rs 18,541 crore on BSE.

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"In an open competitive bidding process, Bharat Heavy Electricals Ltd (BHEL) has emerged as the lowest bidder (Rs 10,800 crore) for the fleet mode tender floated by Nuclear Power Corporation of India Ltd (NPCIL) for the 6x700 MW Turbine Island Package Projects," the company said.

The Pressurised Heavy Water Reactors (PHWRs) are the mainstay of the Indian Nuclear Power Programme and 12 out of 18 operating PHWRs of the NPCIL are equipped with the BHEL-supplied Steam Turbine Generator sets (10x220 MWe plus 2x540 MWe) with the balance from Canada and Ukraine.

Meanwhile, Sensex opened at 50,273.50, 471 points higher and Nifty was at 14,845, up by 125 points. Outperforming the benchmark indices, the broader markets were trading on a strong note.

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