BHEL Stocks Jump 3.70% after it Bags Rs.3500 Crore Order

BHEL Stocks
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Bharat Heavy Electricals Ltd (BHEL) saw its shares rise 3.70% to close at Rs 255.25 on the BSE in the previous session, boosting the power equipment maker’s market cap to Rs 88,879 crore. The stock is in the spotlight following BHEL’s announcement of securing an order from Mirzapur Thermal Energy (UP) Private Limited for a 2×800 MW thermal power project at Mirzapur Phase I, Uttar Pradesh.

In the last trading session, a total of 39.12 lakh BHEL shares were traded, resulting in a turnover of Rs 94.49 crore. The company’s stock has surged 198.40% over the past year and gained 28.69% in 2024. According to its relative strength index (RSI) of 39.4, the multibagger stock is neither overbought nor oversold. Currently, BHEL shares are trading below their 5-day, 10-day, 20-day, and 50-day moving averages but above the 100-day, 150-day, and 200-day moving averages.

BHEL shares fell to a 52-week low of Rs 82.20 on June 6, 2023, but later climbed to a record high of Rs 322.35 on May 21, 2024. The new order, valued at over Rs 3,500 crore excluding GST, includes the manufacturing of boilers and turbine generators at BHEL’s Trichy and Haridwar plants, respectively. BHEL will also supervise the erection and commissioning of the project.

As one of India’s largest engineering and manufacturing companies, BHEL is engaged in designing, engineering, construction, testing, commissioning, and servicing a broad range of products and services. With over 180 product offerings, BHEL meets the diverse needs of the core sectors of the economy.

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