BHEL signs TTA with Bhabha Atomic Research Centre; stock up 2%

Bharat Heavy Electricals Ltd (BHEL) on Wednesday said it entered into a Technology Transfer Agreement (TTA) with Bhabha Atomic Research Centre (BARC) to achieve complete indigenous development of alkaline electrolyser systems for hydrogen production.

"The Mixed-Matrix Membrane Diaphragm Technology developed by BARC is an effective replacement of asbestos diaphragm material used in Electrolyser systems. Further, this diaphragm will be a low-cost import substitute for Zirfon which is used in water electrolysers. The Mixed-Matrix Membrane Diaphragm Technology acquired from BARC shall help BHEL to achieve complete indigenous development of alkaline electrolyser systems. This will be a step further in BHEL's contribution to the 'National Green Hydrogen Mission' and contribute to the Government's 'Make in India' initiative," the state-run firm stated in a BSE filing.

The announcement came post market hours today. Earlier in the day, BHEL shares settled 1.83 per cent higher at Rs 225.95. At this closing value, the counter has climbed 15.69 per cent in a month.

Technically, the scrip traded higher than the 5-day, 10-, 20-, 30-, 50-day and 100-day simple moving averages (SMAs) but lower than the 150-day and 200-day SMAs. Its 14-day relative strength index (RSI) came at 65.65. A level below 30 is defined as oversold while a value above 70 is considered overbought.

As per BSE, the stock has a price-to-equity (P/E) ratio of 159.12 against a price-to-book (P/B) value of 3.20. Earnings per share (EPS) stood at 1.42 with a return on equity (RoE) of 2.01. According to Trendlyne data, BHEL has a one-year beta of 2, indicating high volatility.

BHEL saw trading volume today as around 8.71 lakh shares changed hands. The figure was higher than the two-week average volume of 6.49 lakh shares. Turnover on the counter came at Rs 19.55 crore, commanding a market capitalisation (m-cap) of Rs 78,677.22 crore.

The PSU is one of the largest engineering and manufacturing companies in India engaged in the 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 the economy.

As of March 2025, promoters held a 63.17 per cent stake in the state-owned entity.