Bharat Heavy Electricals Limited (BHEL) shares are in the spotlight today after the company announced a Rs 6,200-crore order from Damodar Valley Corporation in Kolkata. BHEL shares fell 1.70% to Rs 199.45 on Tuesday, compared to the previous close of Rs 202.90 on the BSE. Total 6.85 lakh shares of the company changed hands, resulting in a turnover of Rs 13.52 crore. The power equipment maker's market capitalization fell to Rs 69,449 crore.
The multibagger stock's relative strength index (RSI) of 41.3 indicates that it is neither overbought nor oversold. BHEL shares are trading below their 5 day, 10 day, 20 day, 50 day, 100 day, and 200 day moving averages. However, the BHEL stock has risen by 68.92% from its 52-week low of Rs 185.20 on January 29, 2025.
The PSU stock lost 12.35% in a year but gained 164% in two years. The multibagger stock is trading neither overbought nor oversold, as indicated by the BHEL stock's relative strength index (RSI) of 41.3.
The order is for the Steam Generator Island Package of the 2x660 MW Raghunathpur Thermal Power Station Phase-II project in West Bengal's Purulia district, according to BHEL, which won the contract after international competition.
The order's scope of work was stated as follows: "(i) Supply and Erection, Testing & Commissioning works - Steam Generator and Auxiliaries, ESP, FGD systems, Ash Handling systems along with electrical and C&I (ii) Associated Civil Works."
BHEL said the facilities would be completed in 48-52 months.
BHEL is one of India's largest engineering and manufacturing companies, engaged in the design, engineering, construction, testing, commissioning, and servicing of a diverse range of products and services, with over 180 product offerings to meet the ever-changing needs of the core sectors of the economy.
