BHEL shares gain over 4% on bagging ₹4,000-crore order from Adani Power

Shares of Bharat Heavy Electricals Ltd (BHEL) surged more than 4% on Thursday after the state-run company announced winning an order from Adani Power.

The overall project cost is estimated at ₹4,000 crore excluding GST, the company informed the stock exchange filing.

After the announcement, shares of BHEL gained as much as 4.36% to hit a high of ₹253.7 apiece on the NSE.

BHEL, the largest government-owned power generation equipment manufacturer, has bagged this order from the Adani Group firm to set up a 2x800 MW Raigarh Phase-II Thermal Power Plant at Raigarh in Chhattisgarh, according to the stock exchange filing.

This is the second major order that the PSU giant has won this month and the fourth order it has won in 2024.

Under the agreement, BHEL will supply equipment such as boilers, turbines, generators, and supervise the erection and commissioning for the 2x800 MW power project based on supercritical technology.

The boiler will be manufactured at BHEL's plant in Trichy, while the turbine generator will be produced at its facility in Haridwar, Uttarakhand. The supply of the first unit is scheduled to be completed within 31 months of contract execution, while the second unit must be delivered within 35 months.

Earlier this month, BHEL won an order from NTPC to set up the Singrauli Super Thermal Power Project, Stage-III (2x800 MW), in the Sonbhadra District of Uttar Pradesh. The order, valued at ₹9,500 crore excluding GST, was reportedly secured as BHEL was the sole bidder for the project.

At 11:36 am, BHEL shares were trading 1.19% higher at ₹246 per piece on the NSE.