BHEL share price jumps over 3% on bagging ₹11,800 crore EPC order for thermal power plant

Bharat Heavy Electricals Ltd (BHEL) share price increased by more than 3% during Friday's trading session following the announcement made on March 28 that the state-owned firm has received a Letter of Intent (LoI) from the Chhattisgarh State Power Generation Company (CSPGCL) for the Engineering, Procurement, and Construction (EPC) package for the 2x660 MW Korba West Supercritical Thermal Power Plant (STTP).

The initiative, estimated at around ₹11,800 crore, is situated at the Hasdeo Thermal Power Station in the Korba district of Chhattisgarh. The project includes the provision of supercritical equipment such as the boiler, turbine, generator, and related auxiliaries, as well as the electrical, Control & Instrumentation (C&I), and Balance of Plant (BoP) packages.

BHEL will also handle the erection and commissioning tasks, in addition to civil works. Commercial operations for the project are expected to commence within 60 months.

Last week, BHEL obtained an order valued at ₹7,500 crore to establish a unit of 800 MW at the Ukai Supercritical Thermal Power Plant located in Gujarat. This order has been issued to BHEL by the Gujarat State Electricity Corporation Ltd (GSECL), as stated in a release. The unit is expected to begin commercial operations within a timeframe of 54 months.

Q3 Results

BHEL reported a more than twofold increase in its consolidated net profit to ₹134.70 crore for the December quarter of 2024-25, primarily driven by higher revenues. The company recorded a profit of ₹60.31 crore in the quarter that ended on December 31, 2023, according to a filing with the BSE. Total income rose to ₹7,385 crore during the quarter, up from ₹5,599.63 crore in the same quarter the previous year.

BHEL share price today

BHEL share price today opened at ₹215 apiece on the BSE, the stock touched an intraday high of 221.25 per share, and an intraday low of ₹214.15 per share.

According to Anshul Jain, Head of Research at Lakshmishree Investment and Securities, BHEL share price has reclaimed the crucial support zone of 206 and is holding above it with rising 10 and 20 EMAs. The stock is also trading above the 10, 20, and 50 EMAs, signaling a short-term bullish trend.

“While volumes have yet to pick up, the overall structure remains positive, and a move toward the short-term high of 236 looks likely. If momentum follows through, volumes may catch up, further strengthening the uptrend. Traders should watch for sustained price action above 206 to confirm bullish strength,” advised Jain.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.