BHEL share price surges 12% to hit a 52-week high on order win worth ₹4,000 crore

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Bharat Heavy Electricals Ltd (BHEL) share price jumped nearly 12% to touch a new 52-week high on Tuesday's trading session after the company bagged order worth ₹4,000 crore from Mahan Energen Ltd, a wholly owned subsidiary of Adani Power Ltd. Bharat Heavy Electricals share price closed 9.76% higher at ₹110.80 apiece on NSE. According to company's exchange filing, Mahan Energen Ltd was formerly known as Essar Power MP Ltd.

This order is for the provision of boiler, turbine, and generator equipment, as well as supervision of the erection and commissioning of a two-800 MW supercritical power project at Bandhaura, Madhya Pradesh. BHEL plans to manufacture boilers and turbine generators at its sites in Trichy and Haridwar, respectively. The company notified the stock exchanges that the supply will take 35 months for Unit 2 and 31 months for Unit 1.

Bharat Heavy Electricals share price today opened at ₹101.50 apiece on NSE. BHEL share price today hit intraday high at ₹112.85 and low at ₹101.05. Bharat Heavy Electricals stock price on Tuesday's session was trading at high volume of 96.3 million with price gain of 10.40, as per trendlyne.

Accordind to trendlyne data, BHEL share price rose 105.2% and outperformed its sector by 37.1% in the past year. “Public Sector Undertakings (PSU) stocks have been in demand as stocks have been witnessing high volumes. BHEL too witnessed good price volume action which led to significant price upmove," said Ruchit Jain, lead research analyst at 5paisa.

Bharat Heavy Electricals Ltd reported a consolidated net loss of ₹343.9 crore in the June quarter against ₹188 crore in June quarter FY23. The company's revenue rose by 7.1% to ₹5,003.4 crore in Q1FY24 against ₹4,672 crore in Q1FY23. The company