After a slightly negative start, shares of state-run BHEL rose sharply on Friday morning, riding on an announcement from the company that it has bagged a Rs 11700-crore order for setting up a 3x800 MW supercritical thermal power plant in Jharkhand.
The order for setting up the 3x800 MW Patratu Super Thermal Power Station Expansion, Phase-I, has been placed on BHEL by Patratu Vidyut Utpadan Nigam Limited, a subsidiary of NTPC Limited in Joint Venture with Jharkhand Bijli Vitran Nigam Limited.
This is the single largest order ever placed by NTPC or its subsidiaries and the second largest order ever won by BHEL. BHEL will execute the project on Engineering, Procurement and Construction (EPC) basis.
The project is expected to significantly contribute to the country's quest for clean and eco-friendly power in multiple ways. Through deployment of high efficiency equipment that work at higher operating parameters, the project will help reduce fuel consumption in the power station.
BHEL announced that key equipment for the project will be manufactured at the company's Trichy, Haridwar, Hyderabad, Ranipet, Bhopal, Bengaluru and Jhansi plants. BHEL's Power Sector - Western Region division will be responsible for construction and installation activities at the site.
BHEL, the country's largest manufacturer of power generation equipment with an installed base of over 180000 MW of power plant equipment globally, has successfully manufactured and executed 660 MW, 700 MW and 800 MW sets in the supercritical segment, demonstrating its leadership status and technological prowess.
The BHEL stock touched a high of Rs 88.45 in mid morning trades and is currently hovering around Rs 87.50, up 1.7% from previous closing price. The stock
BHEL reported a 64% jump in standalone net profit at Rs 153.19 crore in the third quarter ended December 31, 2017, over the year-ago quarter. The turnover for third quarter was Rs 6494.44 crore, as compared to Rs 6187.48 crore recorded during the corresponding period previous fiscal. The company's board approved payment of interim dividend at the rate of 40% (Rs 0.80 per share) for 2017-18.
In September 2017, BHEL had issued bonus shares in the ratio of 1:2, its first ever bonus issue in history.