BHEL shares rise 3% on ₹10,000 crore order win from Damodar Valley Corporation

The PSU stock has been on a gaining spree for the last 6 sessions from July 19, rising 9.69% during this period.

In a filing to the stock exchange on Friday, the company said that it has received a Letter of Intent (LOI) from Damodar Valley Corporation (DVC) for setting up the 2x800 MW Koderma Phase-II Thermal Power Station at Koderma district, Jharkhand.

The project, valued at over ₹10,000 crore, involves setting up thermal power units on an engineering, procurement, and construction (EPC) basis.

The company will also supply equipment, including key components such as boilers, turbines, generators, and associated auxiliaries, as per the contract. It also includes the supply of electrical systems and control and instrumentation (C&I) systems, as well as balance of plant (BoP) packages.

Bharat Heavy Electricals informed the bourses that the scope of work also includes handling erection, commissioning, and civil works for the project. The project will be completed within 52 months.

Earlier this month, the public sector company announced the record date as August 9, 2024, to determine the eligibility of shareholders for the final dividend of ₹0.25 per share (12.5% of the paid-up equity share capital) for the fiscal year 2023-24.

The dividend, subject to approval at the 60th Annual General Meeting scheduled for August 22, 2024, will be paid within 30 days of its declaration, by September 20, the company informed the bourses.

BHEL shares closed 1.99% higher at ₹323.6 apiece on the NSE.