New Delhi, June 5: Bharat Heavy Electricals Limited (BHEL), a government-owned enterprise, saw its shares rise by over 2% on Friday. This increase followed the announcement of a significant order received by the company.
BHEL has secured an order exceeding ₹21,000 crore from Meja Urja Nigam Private Limited (MUNPL) for the establishment of a 3×800 megawatt Meja Supercritical Thermal Power Project (Stage-2) in Prayagraj, Uttar Pradesh.
This contract pertains to an Engineering, Procurement, and Construction (EPC) package, which includes all tasks such as design, engineering, manufacturing, supply, construction, installation, testing, and commissioning.
The company stated that this order was obtained through an international competitive bidding process. The project is expected to be completed within 70 months from the date of the award notification, which translates to approximately six years for construction.
MUNPL is a joint venture of NTPC Limited and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL).
BHEL clarified that this order does not fall under the category of related party transactions.
This deal comes shortly after BHEL received another significant order worth ₹2,000 to ₹2,500 crore from a Nigerian company on June 3.
The company informed the stock market that a contract was signed with Dangote Petroleum Refinery and Petrochemicals Free Zone Enterprise on June 2.
This order involves the design, manufacturing, supply, installation, and commissioning oversight of eight gas turbine generator packages for a petroleum refinery and polypropylene plant located in the Dangote Industries Free Zone in Nigeria.
According to the company, this contract is expected to be completed within 26 months from the effective date of the agreement or the commencement of work.
During early trading, BHEL shares opened at ₹390 on the NSE and surged by 2.86% to reach a daily high of ₹400.35. However, a slight decline was observed later in the trading session.
Over the past month, the company’s shares have increased by 3%, 39% over the last six months, and 53.37% year-on-year, with a year-to-date gain of 32.53%.
The total trading volume during the day was 19.19 times higher than the average trading volume of the previous 30 days. The company’s Relative Strength Index (RSI) was recorded at 44.17.
BHEL reported a 155.8% increase in consolidated net profit for the January-March quarter of the fiscal year 2025-26, with net profit rising to ₹1,290.47 crore.
The company recorded an estimated revenue of approximately ₹32,350 crore for the fiscal year 2025-26, which is an 18% increase compared to the previous year.
During this period, BHEL received new orders totaling around ₹75,000 crore. By the end of the fiscal year 2025-26, the company’s total order book is expected to reach approximately ₹2.4 lakh crore.
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