Bharat Heavy Electricals (BHEL) stocks rose as much as 13 per cent to hit the upper circuit in the Thursday trading session after the PSU firm received two mega orders worth Rs 7,000 crore from Adani Power and its subsidiary, Mirzapur Thermal Energy.
BHEL stock traded with 12.14 per cent gain at Rs 286 in the morning session on the National Stock Exchange (NSE).
BHEL received the orders from Adani Power for setting up the 2x800 mega watt (MW) TPP at Raipur, Chhattisgarh and from Mirzapur Thermal Energy (UP) for a 2x800 MW thermal power project at Mirzapur Phase I, Uttar Pradesh, as per the exchange filing.
The Rs 3,500 crore orders from Adani Power and Rs 3,500 crore order from Mirzapur Thermal Energy included the supply of equipment (Boiler, Turbine, Generator) and supervision of erection and commissioning for a 2x800 MW power project based on supercritical technology.
Boiler and Turbine Generator will be manufactured at BHEL's Trichy and Haridwar plants respectively.
The supply of the first unit in both the orders is supposed to be delivered in 35 months, whereas the supply of the second unit is supposed to be delivered in 41 months.
The stock gained around 45 per cent in 2024 so far and outperformed the benchmark index Nifty’s year-to-date (YTD) return of 4.85 per cent.
