Bharat Heavy Electricals Ltd (BHEL) saw a 2% rise in its share price early on July 29, following the announcement of a significant project win. The company’s shares were trading at ₹323.60, up ₹6.35, on the Bombay Stock Exchange (BSE).
BHEL has received a Letter of Intent from Damodar Valley Corporation for 2×800 MW Koderma Phase-II Thermal Power Station in Koderma District, Jharkhand.
There will be a cost component of over ₹10,000 crore to the project that is going to be executed on an Engineering, Procurement, and Construction basis. It encompasses the supply of critical equipment such as boilers, turbines, generators, and associated auxiliaries, then electrical and balance of plane, control & instrumentation packages, erection & commissioning works, and civil works. The project execution timeline is 52 months. This order further consolidates BHEL’s leadership position in the power sector and underlines its capability to successfully execute large projects.
The board meeting of BHEL is further scheduled on July 31, 2024, to consider approval for the unaudited financial results for the quarter ended June 30, 2024. This will further enlighten investors about the company’s financial health and outcome in the future.
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Source: MoneyControl
News Desk
