BHEL share surged almost 5% on bagging project from Nuclear Power Corporation

March 18, 2021

BHEL share surged almost 5% on bagging project from Nuclear Power Corporation

BHEL share surged almost 5% on bagging project from Nuclear Power Corporation:

BHEL: It is also known as Bharat Heavy Electricals Limited (BHEL). It is a state-owned company that manufactures gas and steam turbines, boilers, electric motors, generators, switch gears, power electronics, and transmission systems across India. Whereas the company was incorporated in 1964. In 1974, the company acquired Heavy Electrical Equipment Industry in India and became the largest Electrical manufacturer. The present Chairman & Managing Director (MD) of the company is Nalin Shinghal.

BHEL

Meanwhile, the shares of the company surged almost 5% in the stock market. The main reason for this the company declared as the lowest bidder (L1-bidder) for a Nuclear Power Corporation of India project.

Moreover, the company bagged almost Rs. 10,800 crores (Initial Estimates) for producing 6X700 MW turbine island package projects from Nuclear Power Corporation of India Limited (NPCIL), said the company in the exchange filing.

Besides, the NPCIL has pressurized heavy water reactors (PHWRs), in that 12 PHWRs are equipped with BHEL’s turbine generators i.e, (10X220 MW + 2X540 MW). The Kaiga Unit already created a world record for uninterrupted services from 962 days.

On the other side, the company already supplied 2X700 MW steam turbine generator sets each to Kakrapur atomic power plant (Unit 3&4) and Rawatbhata atomic power plant (Unit 7&8). The company also received an order of two super rapid gun mounts from the Indian Navy for all warships.

The company reached its 52-week high at Rs. 56.50 on March 10th, 2021, and a 52-week low at Rs. 19.20 on March 25th, 2020 respectively.

However, the shares of Bharat Heavy Electricals Limited (BHEL) reported a bullish trend in the stock market on Thursday. It gained 2.40 points with a 4.79% increase and reached 52.50 INR. While in BSE, the bank gained 2.00 points with a 3.99% increase and reached 52.10 INR.

Stock Market on March 18th: 

On Thursday, both Sensex and Nifty continue their bearish trend in the stock market from the last four sessions of the market. The Sensex is trading below 49,200 levels and nifty trading below 14,600 levels in the stock market. The Sensex lost 585.10 points with a 1.17% decrease and reached 49,216.52 levels. While the nifty lost 163.45 points with a 1.11% decrease and reached 14,557.85 levels.

On the other side, the number of coronavirus cases in India on Thursday, March 18th reached 1,14,74,605 with almost 1,59,216 deaths.

In the border markets, the S&P BSE SmallCap index reported a bearish trend in the stock market on Thursday. It lost 327.42 points with a 1.58% decrease and reached 20,386.16 levels. Whereas the S&P BSE MidCap lost 266.99 points with a 1.33% decrease and reached a 19,776.71 level. But, the Nifty Bank lost 372.45 points with a 1.09% decrease and reached 33,856.80 level.

Top Gainers on March 18th: ITC, Bajaj Auto, Hindalco Industries, Grasim Industries, and M&M are the top gainers in today’s stock market.

Top Losers on March 18th: HCL Technologies, Infosys, Dr.Reddy’s Laboratories, Divi’s Laboratories, and Hero Motocorp are the top losers in today’s stock market.