Bharat Heavy Electricals gains on buzz of floating tenders for setting up cryogenic-based oxygen generation plants

Bharat Heavy Electricals (BHEL) is currently trading at Rs. 73.10, up by 0.90 points or 1.25 % from its previous closing of Rs. 72.20 on the BSE.

The scrip opened at Rs. 72.55 and has touched a high and low of Rs. 73.85 and Rs. 70.65 respectively. So far 2499873 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 77.70 on 20-May-2021 and a 52 week low of Rs. 24.15 on 22-May-2020.

Last one week high and low of the scrip stood at Rs. 77.70 and Rs. 66.90 respectively. The current market cap of the company is Rs. 25471.29 crore.

The promoters holding in the company stood at 63.17%, while Institutions and Non-Institutions held 16.96% and 19.87% respectively.

BHEL has reportedly floated tenders for setting up cryogenic-based oxygen generation plants at its units in Tiruchi and Ranipet. While the proposed oxygen generation plant to be set up in Tiruchi will have a capacity 150 cubic meter per hour, the proposed plant at Ranipet will be of 50 cubic meter per hour.

In addition to Tiruchi and Ranipet, the company has also floated tenders for establishing cryogenic-based oxygen generation plants at Jhansi, Vizhag and Jagdishpur. The supply of the materials should be completed within four months from the date of issuance of the purchase order. Last date for submitting the tender documents is May 26, 2021 and they will be opened on the same date itself.

BHEL is India’s largest engineering and manufacturing company of its kind. It is a power plant equipment manufacturer and operates as an engineering and manufacturing company.

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