BHEL jumps over 4% after PSU receives Rs 4,000 crore order from Adani Power

Bharat Heavy Electricals Limited (BHEL) jumped over four per cent in morning deals on BSE on Thursday (March 28, 2024) after the PSU received an order worth Rs 4,000 crore from Adani Power Limited.

The stock that closed at Rs 242.90 on Wednesday opened at Rs 252.00 on Thursday morning and jumped to the day's high of Rs 253.35, a 4.30 per cent rise from the previous close.

The stock of the PSU was trading higher by 2.47 per cent, or Rs 6.00, at Rs 248.90 at 9:26 am on Thursday.

What is BHEL's order?

BHEL has received an order from Adani Power Limited for setting up the 2x800 MW Raigarh Phase-II Thermal Power Plant at Raigarh, Chhattisgarh.

The order contains the supply of equipment - boiler, turbine, generator and associated auxiliaries along with control and instrumentation to Adani Power.

The order also comprises the supervision of erection and commissioning.

The supply of Unit-1 has to be done in 31 months, while the duration to complete Unit-2 is 35 months.

The size of the order is approximately Rs 4,000 crore exclusive GST.