This multibagger PSU stock gains over 3% amid reports of Rs 13,300 crore order win; company issues clarification

BHEL Share Price NSE, BSE: Shares of Bharat Heavy Electricals Limited (BHEL) gained over 3 per cent in early trade today as the benchmark indices Sensex and Nifty hit their new all-time high levels amid a rally in global markets. The stock opened gap up with a gain of 2.86 per cent. It gained further to touch the high of Rs 307.95, a gain of 3.62 per cent from the previous close of Rs 297.20. Last seen the counter was trading at Rs 303.05.

BHEL Share In News

The surge in share price comes a day after reports suggest that the state-owned engineering firm BHEL has bagged Rs 13,300 crore. According to news agency PTI, the company bagged the order to set up a 1600 MW thermal power plant in Koderma in Jharkhand from Damodar Valley Corporation (DVC).

"Commensurate with the goal of the central government to ensure the energy security of the country, DVC has finalised the tender for the engineering, procurement and construction (EPC) package of Koderma TPS (2X800MW) in Jharkhand, with Bharat Heavy Electricals Ltd (BHEL) for Rs 13,300 Crore on June 26, 2024," PTI quoted a statement by power ministry.

BHEL Issues Clarification

However, the company has now issued a clarification stating that the order is yet to be confirmed by DVC.

"This is with reference to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended). This is with reference to recent news articles in various media, the company would like to inform you that BHEL had submitted an offer for the 2x800 MW DVC Koderma tender in Jun’2024, which is an activity in the normal course of business. Order is yet to be confirmed by DVC," the company said in an exchange filing.

BHEL Share Price History

According to BSE Analytics, the counter has given a multibagger return of over 256 per cent in one year and around 557 per cent in two years. So far this year, the counter has gained over 53 per cent.