Bharat Forge shares traded 2.46 per cent up on Rs 1,495 crore contract

Shares of Bharat Forge settled the day 2.46 per cent up on BSE in trade on Wednesday after Alstom Bharat Forge Power, a joint venture of GE and Bharat Forge, signed a contract worth $219 million (about Rs 1,495 crore) with NTPC for supply of steam turbine generators.

The stock added as much as 3.23 per cent on BSE but settled the day 2.46 per cent higher.

Alstom Bharat Forge Power will supply two units of 800 MW ultra-super critical steam turbine generator islands on EPC basis, along with the related civil work for the Telangana Super Thermal Power Project Phase-I near Ramagundam in Tamil Nadu, a company statement said.

The 800 MW steam turbine generator islands for the power plant will be the first ultra-supercritical parameters and will help in meeting the ever increasing power demand of southern states by adding a much-needed 1,600 MW to the electricity grid.

The total power demand from the southern region is 34,000 MW.