BHEL buzzing loud

BHEL is in the news; the stock, which had closed yesterday at Rs.42.05, opened slightly higher at Rs.42.50 and rose to an intraday high at Rs.44.90. Its 52-week high is at Rs.78.65.

There is a news report stating that GE Steam Power has signed $165 million contract with the company for the supply of three nuclear steam turbines out of six units for NPCIL's domestic nuclear program.

The report says that the Phase 1 of the program is being developed in Gorakhpur, Haryana and Kaiga in Karnataka. The nuclear program, upon successful completion, will likely lead to 8.4 Giga Watt of carbon dioxide free electricity for the country, which is good enough to power more than 14 million homes.

This news has not come from the company which is why the stock exchange has sought a clarification, to which the company is yet to reply.