BHEL shares in news today on fresh order win, check details 

Shares of Bharat Heavy Electricals Ltd (BHEL) are in news today after the firm said it has been awarded a Letter of Intent (LOI) by Singareni Collieries Company (SCCL) for the Engineering, Procurement, and Construction (EPC) package of the 1x800 MW Singareni Stage-II thermal power project.

BHEL shares slipped 41.7% to Rs 193.15 on Friday against the previous close of Rs 201.55 on BSE. Total 5.7 lakh shares of the firm changed hands amounting to a turnover of Rs 11.13 crore. Market cap of the power equipment maker slipped to Rs 67,256 crore.

The multibagger stock is trading neither in the overbought nor in the oversold zone, signals its relative strength index (RSI), which stands at 40.2. BHEL shares are trading lower than the 5 day, 10 day, 20 day, 50 day and 100 day and 200 day moving averages. 

The PSU stock has lost 14% in a year and gained 172% in two years. 

The project is valued at approximately Rs 6,700 crore. It will be located in the Mancherial district of Telangana, India. The domestic EPC contract was secured through domestic competitive bidding.

The project includes supply, erection, testing, and commissioning of the boiler, turbine, generator, flue gas desulfurization (FGD), and associated auxiliaries, along with electrical and control & instrumentation (C&I) systems, and balance of plant packages. Completion of the facilities is scheduled within 48 months.

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.