BHEL hits a 52-week high for 3rd session in a row on the back on defence deal and MoC with French nuclear firm

BHEL Share Price: Shares of Bharat Heavy Electricals Ltd (BHEL) hit a 52-week high of Rs 162 in early morning deals on BSE on Wednesday (November 29) on the back of a Rs 2,957 crore order with Ministry of Defence, and a deal with the world's largest nuclear operator from France. 

This is the third trading session in a row when BHEL shares have scaled the 52-week high.

The stock was trading higher by 1.92 per cent, or Rs 3.0, at Rs 159.15, at 9:41 am on Wednesday.

What is BHEL-Defence Ministry deal?

Under the deal, BHEL will manufacture 16 upgraded Super Rapid Gun Mounts and its accessories for the Indian Army.

What is BHEL-French firm deal?   

In a BSE filing, BHEL said that it had signed Memorandum of Cooperation (MoC) with Electricité de France S.A., France (EDF), a French state-owned company and largest nuclear operator worldwide, to explore the opportunity to maximise the local content of the Jaitapur Nuclear Power Plant Project (6x1650 MWe) to be established by NPCIL in India.

"Further, BHEL and EDF will also explore larger collaboration for the European Pressurized Reactors (EPRs) and for the NUWARD SMR (Small Modular Reactor)," the PSU said in a BSE filing.