Bharat Heavy Electricals (BHEL) shares ended 1.45% lower at ₹227.55 apiece on the BSE even after the company said that it secured an order worth ₹5,500 crore from Haryana Power Generation Corp Ltd. (HPGCL). Investors resorted to profit booking at higher level, as the PSU stock touched its 52-week high of ₹243.30 on Feberuary 5, 2024.

As per the deal, BHEL will establish a 1x800 MW Ultra Supercritical Expansion Unit at the Deen Bandhu Chhotu Ram Thermal Power Plant (DCRTPP) located in Yamuna Nagar, Haryana, India. This expansion will involve providing supply of equipment such as boiler, turbine, generator, and associated auxiliaries, as well as handling electrical and civil works. Additionally, the company will oversee the construction and commissioning of the unit, with the entire contract expected to be completed within 57 months, BHEL states in a filing exchange.

A meeting of the board of directors is scheduled for February 13 to approve the unaudited financial results for the quarter ending on December 31, 2023.

Last month, BHEL secured an order worth ₹15,000 crore for the Engineering, Procurement, and Construction (EPC) package for a 3x800 MW NLC Talabira Thermal Power Project (NTTPP) situated in Jharsuguda district, Odisha. It is expected to be completed in 64 months.

The major equipment will be manufactured at BHEL’s Trichy, Haridwar, Hyderabad, Jhansi, Bengaluru, Ranipet, Bhopal, Rudrapur, Varanasi plants. It will involve the supply of equipment such as boiler, turbine, generator, and associated auxiliaries, as well as handling electrical and civil works.

In December, BHEL entered into a memorandum of understanding (MoU) with the Central Manufacturing Technology Institute (CMTI) to collaborate on the advancement of the hydrogen value chain and Industrial Internet of Things (IIoT) solutions aimed at predictive maintenance of machinery and manufacturing processes.

Central Manufacturing Technology Institute

BHEL bags ₹5,500 cr order from Haryana Power Generation