BHEL shares jump over 6% as Adani Power awards four mega projects worth up to ₹28,000 crore

Shares of Bharat Heavy Electricals Limited (BHEL) jumped over 3% on Wednesday, November 4, after the company announced that it had received orders from Adani Power for four projects involving 2x800 MW units each.

The stock rallied as much as 6.32% to ₹425.30 on the NSE. Adani Power was up 2.49% at ₹200.37.

The contracts, valued at ₹5,000 crore–₹7,000 crore apiece, translate into a total estimated order value of ₹20,000 crore–₹28,000 crore, excluding GST.

The orders involve the supply of boilers, turbines and generators, along with auxiliaries and agreed services. The contracts have been awarded by Adani Power, a domestic entity, and will be executed as per the customer's project requirements.

The order win is significant for BHEL as it adds to its order book and reinforces its presence in the power equipment segment.

BHEL Q2 FY27 earnings

State-owned BHEL reported a two-fold jump in consolidated net profit to ₹820.94 crore for the September quarter (Q2 FY27), driven by higher income from key business verticals such as power and industry.

BHEL is India's largest engineering and manufacturing enterprise in the energy and infrastructure sector.

The company had clocked a net profit of ₹374.89 crore in the second quarter of the preceding financial year, BHEL said in an exchange filing.

In July-September, the company's total income rose 24% to ₹9,553.01 crore from ₹7,686.11 crore in the year-ago period.

Sharing segment-wise break-up, the company said that from power and industry businesses, it earned revenue of ₹6,637.90 crore and ₹2,662.45 crore, respectively, up from ₹5,675.64 crore and ₹1,836.16 crore garnered from the two verticals in the September quarter of FY25.

Expenses stood at ₹8,482.40 crore compared to ₹7,201.54 crore a year ago.

BHEL share price trend

Shares of BHEL have gained nearly 3% over the past five trading sessions, while declining around 3% over the past month. The stock has advanced 10.3% in the last six months and surged nearly 43% so far in 2026. Over the past 12 months, BHEL shares have rallied more than 55%.

About Adani Power

Adani Power Limited, part of the Adani Group, is one of India's largest private-sector power generation companies.

The company operates thermal power plants across multiple states and has an installed generation capacity of around 18.15 GW. It is engaged in the generation and sale of electricity to state utilities, distribution companies and other consumers.