State-owned Bharat Heavy Electricals Ltd (BHEL) zoomed 14 per cent to Rs 61.30 apiece on the BSE on Wednesday after global brokerage firm CLSA upgraded the stock to 'Buy' from 'Sell' owing to the benefits that the company could reap due to government's stake sale.
According to reports, the brokerage sees "limited risk" in the stock and believes the "company has a lot to gain from a strategic partner". If the divestiture fails, there could be risks to market price, it said.
Strategic sale buzz fuelled a sharp 27.5% rise on Friday in the share price of Bharat Heavy Electricals (BHEL) during the intra-day trade on BSE. The stock rose to Rs 56.80 on Friday, before closing at Rs 54.45, 22.2% higher than the previous day’s close. It had hit a 52-week low of Rs 41.35 on Wednesday, as the company battled through tough times stemming from execution delays and low order inflows.
State-run Bharat Heavy Electricals Limited (BHEL) on Monday said it has secured two orders worth Rs 2,500 crore from NTPC for setting up of emission control equipment at two of its thermal power plants. “Valued at around Rs 2,500 crore, the orders have been placed on BHEL by NTPC. The orders involve supply and installation of Flue Gas Desulphurisation (FGD) systems for 13 coal based units at 2,600 mega watt (MW) Korba STPS stage I, II and III in Chhattisgarh and 2,100 MW Ramagundam STPS stage I and II in Telangana,” BHEL said in a BSE filing.
As markets opened on Tuesday after a long weekend, Bharat Heavy Electricals Ltd (BHEL) shares tumbled 10%, hitting a new 52-week low of ₹51. Investor dismay is not surprising given the company’s deplorable performance in the June quarter.
The power equipment manufacturer reported an operating loss of ₹266 crore in April-June, a sharp contrast to ₹361 crore profit estimated by 14 brokerages polled by Bloomberg.
Given the inordinate delay in executing a Rs 1,400-crore project crucial for its Nagarnar steel plant in Chhattisgarh, state-run miner NMDC has decided to terminate the contract awarded to another state-owned firm BHEL way back in 2011.
The termination of the contract would further delay the commissioning of the plant, being built at a cost of Rs 15,525 crore.
BHEL recruitment 2019: The Bharat Heavy Electricals Ltd (BHEL) has invited online applications from experienced engineer professionals for the recruitment of managerial posts. BHEL has released a recruitment notification for numerous positions like Manager, Deputy Manager, Senior Manager, Senior Deputy General Manager and Senior Engineers.
State-owned BHEL on Tuesday said it has bagged an order worth over Rs 440 crore from Nuclear Power Corporation of India Ltd (NPCIL).
"BHEL has secured an...order for the erection work of the upcoming 2x1000 MWe turbine generator (TG) island units 3 and 4 at Kudankulam Nuclear Power Project in Tamil Nadu being set up with foreign cooperation (Russia)," it said in a statement.
State-run Bharat Heavy Electricals Ltd (BHEL) Monday said it has won three orders worth Rs 520 crore for setting up solar photovoltaic (SPV) power plants with a combined capacity of 135 mega watt (MW) in Maharashtra and Gujarat.
"Cumulatively valued at Rs 520 crore, the orders have been secured from Maharashtra State Power Generation Company, (MAHAGENCO), Gujarat State Electricity Corporation (GSECL) and Gujarat Narmada Valley Fertilizers and Chemicals, (GNFC)," BHEL said in a statement.
For its superlative performance, Bharat Heavy Electricals Limited (BHEL) has been awarded the Dalal Street Investment Journal (DSIJ) Award 2018 for the ‘Fastest Growing Maharatna of the year — Manufacturing’, in the country.
An independent jury unanimously selected BHEL for the recognition in the manufacturing category based on outstanding profit and Earnings Per Share (EPS) growth.
As a result of strategic initiatives taken, Bharat Heavy Electricals Limited (BHEL) has registered quantum growth in its profitability and entered several new business areas in fiscal 2018-19, ending the year with significant traction in growth drivers. The continued commitment and efforts to deliver on its purpose — to help in building a New BHEL, and a New India, have resulted in the company continuing on the path of improved performance.
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