BHEL Share Rises Upto 4% After Receiving ₹4000 Cr Order from Adani Power

BHEL (Bharat Heavy Limited) received an order from Adani Power Limited, which caused BHEL's share to jump over 4% as soon as the market opened on March 28 on NSE. The PSU received an order worth Rs 4000 Crore, excluding GST from Adani Power. The BHEL Stock closed at Rs 243.10 on Wednesday and opened at 4.36% positive on Thursday. It can be possible that the stock may hit the Rs 300 level on share price as per the analysts.

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What Order Was Received by BHEL?

"We have received an order from Adani Power for setting up the 2x800 MW Raigarh Phase-II thermal power plant at Raigarh, Chhattisgarh," released a statement by the BHEL. It is stated that BHEL received a LoA for the equipment supply and supervision establishment of a 2x800 MW thermal power plant at Raigarh, Chhattisgarh. The supply of units will be in 2 phases, that is, unit-1 and unit-2, which will be executed 31 months after the stipulation of the contract and 35 months, respectively, after the stipulation of the contract. The turbine generator and boiler will be manufactured at Haridwar plants.

Earlier Contract of BHEL

BHEL received another important order earlier this month worth Rs 9,500 Crore excluding GST from NTPC to establish the Singrauli Super Thermal Power Project, Stage-III (2x800 MW) in the Sonebhadra District in Uttar Pradesh; the 1600 MW plant will be adjacent to the already existing plant of 2000 MW thermal power station at sonebhadra.

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