On Thursday, the shares of power equipment manufacturers gained up to 14 percent after the company received two work orders for a 2×800 MW thermal power project worth Rs 7000 crore.
With a market capitalization of Rs 1 lakh crore, the shares of Bharat Heavy Electricals Ltd were trading in green at Rs 285.00 per share, increasing around 11.81 percent as compared to the previous closing price of Rs 255.25 apiece.
Today the company’s stock has seen such a bullish movement after Bharat Heavy Electricals Ltd received two work orders for the Supply of equipment (Boiler, Turbine, Generator) and Supervision of Erection & Commissioning for a 2×800 MW power project based on Supercritical Technology at Raipur, Chhattisgarh and Mirzapur, Uttar Pradesh, respectively. The first order received from Mirzapur Thermal Energy Pvt Ltd, a subsidiary of Adani Power Ltd, worth Rs 3,500 crore.
Moreover, the second order received from Adani Power Limited worth Rs 3,500 crore. The time for executing both contracts is 35 months for Unit -1 and 41 months for Unit 2.
Looking forward to the company’s financial performance, revenue climbed by 0.4 percent from Rs 8,227 crore in Q4FY23 to Rs 8,260 crore in Q4FY24 but during the same time, net profit plummeted by 25 percent from Rs 658 crore to Rs 490 crore.
The stock has given a return of 61.73 percent in 6 months and a multi-bagger return of 244.13 percent in a year. If an individual invested Rs 1 lakh a year ago, it would be worth now Rs 3.44 lakh.
As of December 31, 2023, the company’s outstanding order book stood at Rs 1,08,618 crore, which is 19% higher than the comparable level of December 31, 2022.
Furthermore, The order book includes prominent power sector-related orders, such as the supply of a 310-MVA generator transformer for a thermal power station and a 28.5-MVA generator transformer for a hydropower plant
Bharat Heavy Electricals Limited is an engineering and manufacturing firm. It manufactures equipment for integrated power plants. Its categories include power and industry. The electricity section includes thermal, gas, hydroelectric, and nuclear power plant operations.
Written by:- Abhishek Singh
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