BHEL bags thermal power project order worth ₹13,500 crore from NTPC; check stock performance

In a regulatory filing, the Maharatna PSU stated that it received a notification of award (NOA) from NTPC Limited for 3x800 MW Telangana Stage-II STPP (Main Plant Package).

More specifically, it received the NoA for the supercritical thermal power project in the Peddapalli district of Telangana on March 29, 2026.

In October 2024, BHEL had emerged as the successful bidder for this project. Subsequently, in November of the same year, it received the limited notice to proceed (LNTP) to initiate the basic engineering work of the main plant package.

Under the terms of the contract, the completion of facilities (COF) of the main plant package works is expected to be executed within 62 months from the date of NOA, i.e., from March 29.

The New Delhi-based firm added that both organisations involved in the transaction are central public sector enterprises (CPSEs).

Recent developments

In a separate regulatory filing dated March 19, the company said that its board of directors approved the formation of a joint venture company (JVC) with Titagarh Rail Systems Ltd. for comprehensive maintenance of the supplied Vande Bharat Sleeper Trains.

Furthermore, its board approved an investment of ₹3,064.46 crore as BHEL’s equity contribution, spread over four years, into Coal India’s subsidiary, Bharat Coal Gasification and Chemicals Limited (BCGCL), under its existing joint venture (JV) with the parent company. BCGCL is a JV company of BHEL and Coal India.

On February 17, the state-owned engineering firm had received a power plant project worth ₹1,200-₹1,500 crore from Steel Authority of India Ltd (SAIL).

The letter of acceptance was received for a captive power plant, which is part of a 4.08 MTPA crude steel expansion project of SAIL's IISCO Steel Plant at Burnpur, BHEL said in a regulatory filing.

BHEL stock performance

Shares of BHEL fell as much as 2.45% to an intraday low of ₹248.60 apiece on the National Stock Exchange (NSE) on Monday.

The stock was trading 0.61% lower at ₹253.30 per equity share as of 2:01 PM.

The scrip has declined more than 4% over the month and 13% on a year-to-date basis.

While the share touched a 52-week high of ₹305.90 per unit on January 7, 2026, it reached a year’s low of ₹193.50 on April 7, 2025.

BHEL has a total market capitalisation of ₹87,295.33 crore, as of March 30, 2026, according to data on the NSE.