BHEL share price hits 52-week high after ₹15,530 crore order from NTPC
Bharat Heavy Electricals Limited (BHEL) share price rallied over 2% to hit a 52-week high in the early trade on Thursday after the company bagged an order worth ₹15,530 crore from state-run NTPC for a thermal power plant. BHEL shares rose as much as 2.35% to ₹121.45 apiece on the BSE. BHEL has secured the order for setting up the 2x800 MW Supercritical Thermal Power Project Stage-II at Lara in Chhattisgarh for NTPC.
The scope of work includes design, engineering, manufacture, supply, construction, erection, testing and commissioning with civil and structural works for the EPC package with steam generator capable of biomass co-firing, steam turbine, generator and auxiliaries, emission control systems, control and instrumentation, balance of plant packages etc. Unit-1 is to be executed in 48 months and Unit-2 in 52 months, BHEL said in a regulatory filing. Also Read: Hindenburg 2.0? Adani shares fall despite denial by Adani group of fresh allegations On August 25, the state-run engineering major BHEL had announced that it bagged a ₹2,242-crore work from NHPC.
Amit Anwani, Research Analyst at Prabhudas Lilladher said the pickup in thermal power orders and the company’s focus on diversification in segments such as railways, defence, nuclear, hydro augurs well in the long term. The stock is currently trading at PE of 46.8x/26.6x FY24/25E. The brokerage has ‘Reduce’ rating on BHEL with a target price of ₹67 per share.
BHEL share price has jumped over 50% this year so far. The stock has rallied more than 102% in the last one year and has given stellar returns of over 208% in three years. Led by back to back order wins, BHEL shares are up more than 10% in one week.
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