BHEL shares clarification, says this after 12% stock rally

Shares of Bharat Heavy Electricals Ltd (BHEL) were off its day's high after the PSU issued clarification regarding reports of NTPC order win. Stock exchanges had sought clarification from BHEL after the scrip had climbed 15 per cent to hit a high of Rs 271.20 on report BHEL was the only bidder for the third phase of the Singrauli Super Thermal Power Project. The report suggested that had received approval for the Rs 17,195.30 crore investment.

The stock was later trading at 12.27 per cent higher at Rs 264.80. BHEL said it did submit a price bid on December 21, 2023, and was the only bidder, for the mentioned NTPC tender, which is an activity in the normal course of business.

"Submission of bid does not result into automatic bagging of an order, therefore, is not required to be informed under Regulation 30 of the SEBI Listing Regulations, 2015," it said.

As of now, BHEL said, it has not received any order from NTPC regarding the subject project.

"We confirm that BHEL has not been withholding any information which may have a bearing on the operation/ performance of the Company which includes price sensitive information. The Company reiterates its adherence to the requirements laid down in Regulation 30 of the SEBI Listing Regulations, 2015 and will keep the Stock Exchanges duly informed of any information as required under the said Regulations as and when any such event occurs," it said.