Shares of Bharat Heavy Electricals Limited (BHEL) are in news today after the firm said it won Rs 6,200-crore order from Damodar Valley Corporation in Kolkata. BHEL shares slipped 1.70% to Rs 199.45 on Tuesday against the previous close of Rs 202.90 on BSE. Total 6.85 lakh shares of the firm changed hands amounting to a turnover of Rs 13.52 crore. Market cap of the power equipment maker slipped to Rs 69,449 crore.
The multibagger stock is trading neither in the overbought nor in the oversold zone, signals its relative strength index (RSI), which stands at 41.3. BHEL shares are trading lower than the 5 day, 10 day, 20 day, 50 day and 100 day and 200 day moving averages. However, the BHEL stock has risen 68.92% gain from its 52-week low of Rs 185.20 hit on January 29, 2025.
The PSU stock has lost 12.35% in a year and gained 164% in two years. The multibagger stock is trading in neither in the overbought nor in the oversold zone, signals relative strength index (RSI) of BHEL stock which stands at 41.3.
The order is for Steam Generator Island Package of 2x660 MW Raghunathpur Thermal Power Station Phase-II project at West Bengal's Purulia district, said BHEL about the contract it won after international competitive bidding.
On the nature of the order, BHEL said, "(i) Supply and Erection, Testing & Commissioning works – Steam Generator and Auxiliaries, ESP, FGD systems, Ash Handling systems along with electrical and C&I (ii) Associated Civil Works."
The facilities are to be completed in 48-52 months, said BHEL.
BHEL is one of the largest engineering and manufacturing companies in India engaged in design, engineering, construction, testing, commissioning and servicing of a wide range of products and services with over 180 product offerings to meet the ever-growing needs of the core sectors of economy.