BHEL shares in news today as firm wins Rs 5,500-crore order

Shares of Bharat Heavy Electricals Ltd (BHEL) are in focus today after the power equipment maker said it won an order from HPGCL (Haryana Power Generation Corporation) for setting up the 1x800 MW ultra-critical expansion unit at Deen Bandhu Chhotu Ram Thermal Power Plant (DCRTPP) Yamuna Nagar.

The contract value is over Rs 5,500 crore. BHEL will provide equipment (including a boiler, turbine, generator, and associated auxiliaries), erection and commissioning, and civil works. The contract is to be executed in 57 months.

BHEL stock ended flat at Rs 230.90 on Thursday. BHEL stock has clocked multibagger returns of 203% and 133% in a year and six months, respectively. In three years, the PSU stock is up 480%.

Total 17.58 lakh shares of the firm changed hands amounting to a turnover of Rs 40.93 crore. Market cap of the firm stood at Rs 80,400 crore. The stock hit a 52-week low of Rs 66.30 on February 27, 2023 and a 52 week high of Rs 243.30 on February 5, 2024.

In terms of technicals, the relative strength index (RSI) of BHEL stock stands at 67.4, signaling it's trading neither in the overbought nor in the oversold zone. BHEL shares are trading higher than the 5 day , 10 day, 20 day, 50 day, 100 day and 200 day moving averages.

BHEL is one of the largest engineering and manufacturing companies in India engaged in design, engineering, construction, testing, commissioning and servicing of a wide range of products and services with over 180 product offerings to meet the ever-growing needs of the core sectors of economy.

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