BHEL Bags Rs 2,600-Crore Equipment-Supply Order For Thermal Power Project

Bharat Heavy Electricals Ltd has bagged an order worth Rs 2,600 crore from MB Power (Madhya Pradesh) Ltd for supply of equipment for a thermal power project.

The order involves the supply of boiler, turbine, generator for a 1x800 MW power project, which is based on supercritical technology, at Anuppur, according to an exchange filing on Wednesday.

The boiler and turbine generator are to be manufactured at BHEL's Tiruchirappalli and Haridwar plants respectively. The completion schedule for the supply of the components is 58 months, it added.

Shares of BHEL closed 0.72% higher at Rs 216.97 apiece on the National Stock Exchange before the announcement, compared to a 0.55% rise in the benchmark Nifty. The stock has fallen 24.23% in the last 12 months and 5.42% on a year-to-date basis.

Out of the 19 analysts tracking the company, eight have a 'buy' rating on the stock, as many suggest 'sell' and three recommend 'hold', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential downside of 24.1%.