BHEL Inks 50:50 JV Pact With Titagrah Rail Systems To Maintain Vande Bharat Sleeper Trains

Bharat Heavy Electricals Ltd. (BHEL)  inked a joint venture deal with Titagarh Rail Systems Ltd. with a 50:50 share exchange ratio for the comprehensive maintenance of supplied Vande Bharat sleeper trainsets for 35 years, according to an exchange filing on Tuesday. 

The joint venture will be incorporated as a private limited company with an initial paid-up share capital of Rs 50 lakh. It is also yet to be incorporated.

"The joint venture company shall leverage the joint technical strength of both promoter companies for ensuring the operational readiness, safety and reliability of the trainsets for their entire 35-year service life," the filing said.

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The registered office of the joint venture will be situated in the state of Delhi. BHEL and Titagarh Rail will each nominate two directors for the board of the joint venture company. 

BHEL Share Price Movement

Shares of BHEL settled at a downturn of 4.21% to Rs 412.85 at the end of the day's trade, compared to a 1.19% decline of the NSE Nifty 50.

The stock opened at Rs 431.25, compared to its previous close of Rs 431.00. During today's trading session, Bharat Heavy Electricals Ltd. share price moved in the range of Rs 412.85 to Rs 432.00.

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Looking at its last 52-week performance, the stock has touched a low of Rs 229.12 and a high of Rs 446.50. On the performance front, Bharat Heavy Electricals Ltd. share price is up 79.76% on a year-on-year basis.

The market capitalization of Bharat Heavy Electricals Ltd. is Rs 83,687.91 crore, with a P/E ratio of 306.94.

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