Heavy electrical equipment maker gains 4% on Rs 300 crore-order deal

22 Jan 2023

Shares of Bharat Heavy Electricals Ltd (BHEL) rose over four percent on January 20 in reaction to the development of the company bagging a Rs 300 crore-order. The heavy electrical equipment manufacturer won an order for the renovation & modernisation (R&M) of steam turbines at Ukai Thermal Power Station (TPS) in Gujarat.The order for R&M of the 200 MW Unit-3 and the 210 MW Unit-5 has been placed on BHEL by Gujarat State Electricity Corporation Ltd.“Significantly, BHEL is also the Original Equipment Manufacturer (OEM) of these turbine sets which have been successfully operating for around 40 years, before being taken up for R&M,” the company said in an exchange filing.The company will work on the design, engineering, manufacturing, supply, dismantling, erection, testing and commissioning of the steam turbines and associated auxiliaries.Further, the equipment for the project will be supplied by BHEL’s manufacturing units at Haridwar, Trichy, Bengaluru and Bhopal while the execution on site will be undertaken by the company’s Power Sector - Western Region, Nagpur.Orderbook as on FY22 was at around Rs 1 lakh crore which is 4.3 times trailing twelve month sales of the company, ICICI Securities pointed out.