BHEL Gains Over 5% After Bagging Order From Goa Shipyard

Share price of Bharat Heavy Electricals Limited (BHEL) gained more than five per cent on Tuesday, September 28, after the state-run enterprise bagged an order from Goa Shipyard for warship gun mount. On Tuesday, BHEL opened on the BSE at Rs 56.85, swinging to an intra day high of Rs 60.75, and an intra day low of Rs 56.85, in the trading session so far.

Goa Shipyard's order involves the supply of an upgraded Super Rapid Gun Mount or SRGM - the Main gun onboard most Warships of the Indian Navy, according to a regulatory filing by the company to the stock exchanges today. 

The order won by the government owned engineering and manufacturing enterprise consists of the supply, installation, and commissioning of the entire system. This involves the upgraded gun mount and accessories for the ''triput class frigates'' of the Indian Navy, which will be manufactured at the Haridwar unit of Bharat Heavy Electricals.

The upgraded super rapid gun mount is a state-of-the-art weapon system which comprises features such as the capability to manage different types of ammunition to engage fast, radio controlled targets, manoeuvring and non-manoeuvring.

The upgraded gun mount system also has the capability to fire advanced ammunition with a higher range and programmable ammunition.

On the NSE, BHEL opened at Rs 56.95, registering an intra day high of Rs 60.80 and an intra day low of Rs 56.85, in the session so far. It was last trading 5.27 per cent higher at Rs 59.95 on the NSE. 

Shares of BHEL were last trading 5.27 per cent higher at Rs 59.90 on the BSE. At 12:50 pm, the BSE Sensex was trading 59,409.40 lower by 668.48 points or 1.11 per cent.