BHEL share price rises 2% after Adani Power order: What’s happening?

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Mar 28, 2024 09:49 AM IST

BHEL share price: At 9:20am, Bharat Heavy Electricals was at ₹247.60, up ₹4.70 or 1.93 percent, on the BSE.

BHEL share price today: Share price of Bharat Heavy Electricals Limited (BHEL) rose 2 per cent today (March 28) after the company received a 4,000-crore order from Adani Power. At 9:20am, Bharat Heavy Electricals was at 247.60, up 4.70 or 1.93 percent, on the BSE. The company said in its release, “We have received an order from Adani Power for setting up the 2×800 MW Raigarh Phase-II thermal power plant at Raigarh, Chhattisgarh.”

BHEL share price rises 2% after Adani Power order. Will this continue?
BHEL share price rises 2% after Adani Power order. Will this continue?

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What we know about Adani Power’s BHEL order?

The company received letter of award (LoA) for supply of equipment (boiler, turbine, generator) and supervision of erection and commissioning for 2×800-MW power project based on supercritical technology at Raigarh Phase II, Chhattisgarh. 

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The company said that the boiler and turbine generator will be manufactured at BHEL’s Trichy and Haridwar plants and the supply of Unit-1 will be executed in 31 months while Unit-2 will be started in 35 months.

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BHEL orders this month

The company bagged an order earlier this month for setting up 1,600-MW Singrauli Supercritical Thermal Power Plant (STPP) Stage-III from NTPC. As per BHEL’s statement, the plant will be set up adjacent to the existing 2,000-MW thermal power station (TPS) at Singrauli in Uttar Pradesh.

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