BHEL share price turns choppy after initial gain - key triggers

BHEL share price: Bharat Heavy Electricals Limited (BHEL) share price surged 1 per cent to Rs 56.5 per share on the BSE intraday in the early session on Wednesday. However, it succumbed to market pressure to trade in negative territory.

BHEL had on Tuesday bagged an order from NTPC to set up a 2x660 megawatt thermal power project, the state-owned company said in a regulatory filing. The project is to be constructed on an Engineering, Procurement and Construction (EPC) basis, BHEL said in a statement.

The company did not disclose any further details related to the project in the statement. Talcher Thermal Power Project is located in Talcher, Odisha.

At around 10:45 AM, the shares of BHEL were trading lower around 0.4 per cent to Rs 55.75 per share on the BSE as compared to a 0.65 per cent fall in the S&P BSE Sensex. The shares in the last one year underperformed the market by declining around 8 per cent versus Sensex down 5 per cent.

The counter has touched Rs 78.65 per share as its 52-week high on October 13, 2021, and Rs 41.4 per share as its 52-week low on June 20, 2022.

BHEL is an Indian government-owned engineering and manufacturing enterprise based in New Delhi, India, under the ownership of the Ministry of Heavy Industries, established in 1956. It is India's largest power generation equipment manufacturer.

The company is one of the largest engineering and manufacturing companies of its kind in India engaged in the design, engineering, construction, and testing in the power sector as well as heavy electrical.