BHEL shares up 3.5% on Power Grid order - Stock on radar

BHEL shares up 3.5% on Power Grid order BHEL SEBI RA – Shubh Consultancy – Sunil Kotak – INH000015826 Shares of Bharat Heavy Electricals (BHEL) gained 3.5 per cent in intraday trade on Wednesday after the company received an order from Power Grid Corporation of India for the installation of two synchronous condensers at Kalyanpur in Gujarat. The order has been placed on behalf of Power Grid's project special purpose vehicle The company's counter at 01:46 AM was trading 2.18 per cent higher at ₹432 per share on NSE. In comparison, Nifty 50 was 0.68 per cent up at 25,215.80. In intraday trade, the stock gained 3.5 per cent to touch the day's high at ₹437 per share. The scope of work includes design, engineering, manufacturing, supply, erection, testing and commissioning of the two synchronous condensers. The project is associated with the transmission system for integrating power from renewable energy projects in the Jam Khambhaliya Renewable Energy Zone (REZ) in Gujarat. The project is valued between ₹600 crore and ₹900 crore, excluding GST, and is to be executed over 35 months. BHEL said the order does not involve any interest of its promoter or promoter group in the awarding entity and does not fall under related-party transactions. BHEL has received a Notification of Award from Power Grid Corporation of India, a government-owned enterprise, for setting up two synchronous condensers of +300/-200 MVAR capacity at Kalyanpur in Gujarat. All this is for information This is not a buy/sell recommendation. SEBI RA – Shubh Consultancy – Sunil Kotak – INH000015826 Thank you, Technofunda24