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BHEL’s cheap valuation make its shares attractive, but risks remain
Posted on 27th June 2018
Bharat Heavy Electricals Ltd’s (BHEL’s) stock price has fallen by almost a fifth since January. Weak revenue growth, high receivables (customer dues) and low customer advances have taken the sparkle off this state-owned Maharatna. At the current market price, its price-earnings multiple has tumbled to around 14 times estimated FY19 earnings, from 20 times until a few months ago. Strangely, even the 74% spike in its FY18 order flows failed to enthuse the Street, due to concerns on sustainability.

BHEL bags orders worth Rs 10 bn from Telangana State Power Generation Corp
Posted on 20th June 2018
State-run power equipment maker BHEL has bagged two orders worth Rs 10 billion from Telangana.

The orders from Telangana State Power Generation Corporation (TSGENCO) are for supply and installation of emission control equipment at Kothagudem and Bhadradri thermal power stations, BHEL said in a statement.

Maintain ‘buy’ on BHEL with target price of Rs 110
Posted on 31st May 2018
Bharat Heavy Electricals (BHEL) saw a jump in Q4FY18 gross margin which helped neutralise the wage revision impact. However, adjusting for forex loss/gain in FY17/FY18, EBIDTA growth at 3% was in line with revenue, implying flattish margin at ~5% levels. The company sustained the sharp drop in slow-moving orders, which now account for only 17% of order book vs 40% last year and 21% in Q3FY18.

BHEL Q4 profit more than doubles to Rs457 crore, but misses expectations
Posted on 29th May 2018
New Delhi: State-owned power equipment maker Bharat Heavy Electricals Ltd’s (BHEL) net profit more than doubled to Rs457.12 crore for the March 2018 quarter on higher revenues, compared to a profit of Rs215.55 crore a year ago.

The company’s total income edged down to Rs10,341.58 crore in the fourth quarter from Rs10,476.28 crore last year, BHEL said. The turnover (sales) for the quarter was Rs9,833 crore as against Rs9,479 crore in the last year.

CPSE Privatisation: BHEL, MTNL on NITI’s new list
Posted on 12th May 2018
The government, which has made little progress in carrying out strategic sales of the 40 central public sector enterprises (CPSEs) including Air India from four earlier lists given by NITI Aayog, has received a fresh list of 11 CPSEs for privatisation from the official think tank. Bharat Heavy Electricals (BHEL), Hindustan Copper (HCL), the ailing MTNL, Telecommunications Consultants India (TCIL) and Mecon topped the new array of companies that could be put up for sale, according to NITI Aayog.

BHEL to make space grade lithium-ion cells based on Isro technology
Posted on 23rd March 2018
New Delhi: State-run power equipment maker BHEL on Friday entered into a technology transfer agreement with Indian Space Research Organisation (Isro) for the manufacturing of space-grade lithium-ion cells of various capacities.

BHEL will utilise technology developed by Isro at its Vikram Sarabhai Space Centre (VSSC), a BHEL statement said.

Bhel commissions Ist unit of Kishanganga hydro project in Jammu and Kashmir
Posted on 19th March 2018
State-run power equipment maker Bhel today said it has commissioned first unit of 110 MW of the Kishanganga hydro-electric project (HEP) of NHPC in Jammu and Kashmir. Located on the river Kishanganga, a tributary of the Jhelum in Bandipora district, all the three units of the 340 MW project will generate 1,350 million units (MU) of clean electricity annually, a Bhel statement said.

BHEL bags Rs 117-bn thermal power plant contract in Jharkhand's Ramgarh
Posted on 9th March 2018
State-owned power equipment major Bharat Heavy Electricals Limited (BHEL) on Friday said it has won Rs 117-billion order for setting up a 3x800 Mw thermal power plant in Jharkhand.

"The order for setting up the 3x800 MW Patratu Super Thermal Power Station Expansion, Phase-I (3x 800 MW) has been placed on BHEL by Patratu Vidyut Utpadan Nigam Ltd (PVUNL - a subsidiary of NTPC Ltd in joint venture with Jharkhand Bijli Vitran Nigam Ltd)," BHEL said in a BSE filing.

ABC India surges 19% on order win of Rs 1,419 million from BHEL
Posted on 28th February 2018
ABC India surged 19% to Rs 109 on the BSE in intra-day trade after the company announced that it has been awarded an order of Rs 1,419 million from the state-owned company BHEL.

The order is for multimodal transportation of export project cargo from India to the MSTPP Rampal Project in Bangladesh, ABC India said in a regulatory filing.

BHEL bags Rs 560-cr order from NTPC
Posted on 14th February 2018
Power equipment maker BHEL has bagged an order worth Rs 560 crore for supply and installation of the flue gas desulphurisation (FGD) system from NTPC for 2×490 MW National Capital Power Station (NCPS) at Dadri in Uttar Pradesh. The order has been secured by BHEL against stiff competition from Indian and multinational companies, a BHEL statement said. The notification calls for installation of equipment to control various harmful emissions, both in existing as well as new thermal power plants.

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