Maharatna PSU stock jumps after receipt of ₹1,500 crore order from Hindalco Industries. Details here

Maharatna PSU stock, Bharat Heavy Electricals Ltd (BHEL), jumped during the intraday stock market session on Wednesday, 4 February 2026, after the company announced that it had received a letter of intent for an order from Hindalco Industries, according to an exchange filing.

The NSE filing showed that BHEL bagged an up to ₹1,500 crore order book intent from Hindalco for designing, engineering, supply of equipment, installation, commissioning and carrying out performance acceptance test at one of the company's projects in Odisha.

The size of the order book update is in the range of ₹1200 crore to up to ₹1,500 crores, excluding the goods and services tax (GST) rates on the transaction.

“Letter of Intent (LOI) received on 3rd February 2026 for Design, Engineering, Supply of equipment, Installation, Commissioning and Performance Acceptance Test (PAT) for 2 x 150 MW BTG Package for Aditya Expansion Project Phase II at Aditya Aluminium, Hindalco Industries Limited at Lapanga, Sambalpur in the state of Odisha, India,” the company informed the stock exchanges through its filing.

The company also disclosed that the order is set to be executed and completed within 35 months from the commencement date of the contract.

BHEL share price jumped more than 2% during the trading session on Wednesday, hitting the intraday high of ₹274 after the order book update was filed with the stock exchanges.

BHEL share price trend

BHEL shares were trading 1.94% higher at ₹273.10 during the afternoon session ahead of the market close on Wednesday, compared to ₹267.90 at the previous stock market close, according to NSE data.

Shares of the Maharatna PSU firm have given stock market investors more than 547% returns on their investment in the last five years and over 264% returns in the last three-year period, NSE data shows. The company's stock has also gained 32.09% over the last one-year period.

On a year-to-date (YTD) basis, BHEL stock has lost 6.31% so far in 2026, but is trading 5.16% higher in the last five sessions on the Indian stock market.

NSE data showed that the shares of BHEL hit their 52-week high level at ₹305.90 on 7 January 2026, while the 52-week low level was at ₹176 on 3 March 2025. The Maharatna PSU's market capitalisation (M-Cap) was at ₹95,060 crore as of the trading session on Wednesday.

Hindalco Industries shares were trading 0.45% higher at ₹959.60 during Wednesday's afternoon market session, compared to ₹955.30 at the previous market close, according to the exchange data.

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