Bharat Heavy Electricals Ltd. secured a letter of intent from Singareni Collieries Company Ltd. for the engineering, procurement, and construction package for the Singareni Thermal Power Project, Stage II (1x800 megawatt) at Mancherial district, Telangana, India, according to an exchange filing on Friday.
The estimated value of the order is approximately Rs 6,700 crore, excluding taxes and duties.
It involves supply and erection, testing and commissioning works—boiler, turbine, generator, FGD, and associated auxiliaries—along with electrical and C&I, balance of plant packages, and associated civil works. Completion of facilities is to be done in 48 months.
BHEL had received a similar order from Damodar Valley Corp. worth Rs 6,200 crore for a steam generator island for the Raghunathpur thermal power project in West Bengal.
The company had received a letter of intent for the steam generator island package for the 2x660 MW Raghunathpur thermal power station phase-II project in Purulia district.
This contract covered the supply, testing, and commissioning of a steam generator and its auxiliaries, as well as ESP, FGD, and ash handling systems. It also included electrical and control & instrumentation components, along with associated civil works, as detailed in the filing. The estimated value of the order was approximately Rs 6,200 crore, excluding taxes and duties.
Shares of Bharat Heavy Electricals rose as much as 0.96% during the day to Rs 203.75 apiece on the National Stock Exchange. It closed 4.22% lower at Rs 193.31 per share, compared to a 0.27% advance in the benchmark Nifty. The share price has fallen 13.87% on a 12-month basis.
Seven out of the 17 analysts tracking the company have a 'buy' rating on the stock and two suggest 'hold,' and eight recommend a 'sell,' according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 14.4%.
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