BHEL shares in focus today, here's why 

Shares of Bharat Heavy Electricals (BHEL) are in focus today as the company has inked a long-term Memorandum of understanding (MOU) with Nuovo Pignone International for addressing compressor revamp opportunities in fertilizer sectors in India. The MoU is for a period of 10 years. 

BHEL shares gained 0.40% to Rs 211.80 on Wednesday against the previous close of Rs 210.95 on BSE. Total 4.36 lakh shares of the firm changed hands amounting to a turnover of Rs 9.15 crore. Market cap of the power equipment maker slipped to Rs 73,750 crore.

The multibagger stock is trading neither in the overbought nor in the oversold zone, signals its relative strength index (RSI), which stands at 54.6. BHEL shares are trading lower than the 5 day, 10 day, 100 day, 150 day, 200 day but higher than the 20 day, 30 day and 50 day moving averages. 

The PSU stock has lost 17% in a year and gained 200% in two years. 

"BHEL shall be the main (lead) bidder to the identified customers for addressing the compressors train revamp business opportunities in fertiliser sector in India and Nuovo Pignone International will be nominated vendor to BHEL through the subject MoU with definite scope of work," said BHEL.  

The objectives of the MoU are: 

a) BHEL will be able to address Compressor Revamp opportunities in Fertilizer sector in India after strategic Tie Up with Nuovo Pignone International s.r.l. with approx. business share of 50% in Financial terms.

b) BHEL market share is expected to improve in fertilizer sector R&M business. 

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.