BHEL shares in news today as PSU wins order worth over Rs 3,500 crore

Shares of multibagger Bharat Heavy Electricals Ltd (BHEL) are in news today after the PSU said it won an order from from Mirzapur Thermal Energy (UP) Private Limited for 2x800 MW thermal power project at Mirzapur Phase I, Uttar Pradesh.
BHEL rose 3.70% to close at Rs 255.25 on BSE in the previous session. Total 39.12 lakh shares of the firm changed hands amounting to a turnover of Rs 94.49 crore. Market cap of the power equipment maker climbed to Rs 88,879 crore.

The PSU stock has risen 198.40% in a year and gained 28.69% in 2024. The multibagger stock is neither overbought nor oversold on charts, signals its relative strength index (RSI), which stands at 39.4. BHEL shares are trading lower than the 5 day, 10 day, 20 day, 50 day but higher than the 100 day, 150 day and 200 day moving averages.

BHEL shares fell to a 52-week low of Rs 82.20 on June 6, 2023 and scaled a record high of Rs 322.35 crore on May 21, 2024.
Boilers and turbine generators will be manufactured at BHEL's Trichy and Haridwar plants, respectively. BHEL will also be involved in the supervision of erection and commissioning.

The order size is over Rs 3,500 crore excl;uding GST, BHEL said.

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.