Bharat Heavy Electricals Ltd.'s share price extended gains on Friday, as it has received an order worth Rs 11,800 crore from Chhattisgarh State Power Generation Co. The order is under engineering, procurement, and construction model. The order amount is broad consideration, excluding taxes and duties.
As part of the order, Bharat Heavy Electricals will build two 660-megawatt supercritical thermal power plants at Hasdeo Thermal Power station, in Korba District, Chhattisgarh, the exchange filing said. The company will also supply boiler, turbine, generator and associated auxiliaries, along with electrical, C&I, balance of plant packages.
Bharat Heavy Electricals will complete the project within 60 months, the filing said.
BHEL Share Price Today
Bharat Heavy Electricals share price rose 3.42% to Rs 221.30 apiece. It was trading 2.51% higher at Rs 219.35 apiece as of 11:41 a.m., as compared to a 0.06% decline in the NSE Nifty 50.
The stock declined 11.30% in 12 months, and 4.42% year-to-date. Total traded volume so far in the day stood at 1.7 times its 30-day average. The relative strength index was at 64.50.
Out of 17 analysts tracking the company, seven maintain a 'buy' rating, two recommend a 'hold' and eight suggest 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 0.5%.
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