On Wednesday, June 5, 2024, state-owned company Bharat Heavy Electricals Limited (BHEL) secures 3,500 crore order from Adani Power limited (APL). The contract is for setting up a 2×800 MW thermal power plant (TPP) in Raipur, Chhattisgarh.
According to a stock exchange filing, BHEL will be responsible for supplying key equipment such as boilers, turbines, and generators, along with associated auxiliaries. The company will also oversee the erection and commissioning of the power project, which will be based on supercritical technology.
BHEL Secures 3,500 Crore Order from Adani Power
BHEL announced that it has signed a contract with Adani Power to build a 2×800 MW thermal power plant in Raipur, Chhattisgarh. The deal is worth over ₹3,500 crore, not including GST.
BHEL will supply and supervise the installation of boilers, turbines, and generators using advanced technology. The boiler will be produced at BHEL’s Trichy plant, and the turbine generator at its Haridwar plant.
BHEL Shares Jump 10% After Securing Big Order
On Thursday, Bharat Heavy Electricals Ltd (BHEL), a state-owned company, saw its shares surge by 9.99%, reaching ₹280.75 per share on the BSE. This significant rise came after BHEL announced it had won a large order worth more than ₹3,500 crore from Adani Power Limited. The order is for building a thermal power plant in Raipur, Chhattisgarh. This positive news boosted investor confidence, leading to the sharp increase in BHEL’s stock price during the day.
Business Expansion and Profit Variations
BHEL, one of India’s largest engineering firms, focuses on energy and infrastructure but is also expanding into defense, aerospace, urban mobility, and railways. In the January-March quarter of FY24, BHEL reported a net profit of ₹489.62 crore, down 25.6% from the same period last year due to higher expenses. However, this profit was a significant increase from ₹60.31 crore in the previous quarter. Revenue grew slightly year-on-year by 0.4% to ₹8,260.25 crore but was up 50% from the previous quarter. As of 09:25 AM, BHEL’s stock was up 9.99% at ₹280.75, while the BSE Sensex rose 0.48%. Over the past six months, BHEL’s stock has risen 57.38% and 234.94% in the past year.
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