BHEL gets 'powered' up

BHEL is currently the top gainer on the BSE, going up almost 7.5% to hit an intraday high at Rs.53.80, which not too far from either the 10% UC of the day at Rs.55.10 and 52-week high of Rs.56.50. Its market cap stands at Rs.18,500 crore.

The stock price reacted to its announcement of yesterday after market hours that it has emerged as the lowest bidder at Rs.10,800 crore for the fleet mode tender floated by Nuclear Power Corporation of India Limited (NPCIL). This is for the 6x700 MW Turbine Island Package Projects.

Significantly, with this, BHEL has retained its market leadership position of being the sole Indian supplier of Nuclear Steam Turbines.

Notably, PHWRs (Pressurised Heavy Water Reactors) are the mainstay of the Indian Nuclear Power Programme and 12 out of 18 operating PHWRs of NPCIL are equipped with BHEL-supplied Steam Turbine Generator sets (10x220 MWe + 2x540 MWe) with the balance from Canada and Ukraine.

Additionally, BHEL has already supplied 2x700 MWe Steam Turbine Generator sets each for Kakrapar Atomic Power Plant (Unit 3&4) and Rawatbhata Atomic Power Plant (Unit 7&8).

During the nine months period in current fiscal, April to Dec, BHEL has won orders worthRs.9,100 crore.