Large order win powers Bhel

Large order win powers Bhel

Bharat Heavy Electricals rose 2.01% to Rs 2127 at 12:40 IST on BSE on reports the company has bagged an order worth Rs 1,075 crore from Gujarat State Energy Generation for setting up a 350 megawatt combined cycle power plant at Hazira in Gujarat..

Meanwhile, BSE Sensex was up 91.03 points or 0.52% to 17,741.60, as Asian stocks were mostly in green following overnight rally in US stocks. US stocks rose sharply on Monday, 25 February 2008, on signs the two largest bond insurers would stabilize, bringing a wave of relief to a market dogged by concerns of further bank write-downs.

On BSE, 64,903 shares were traded in the counter. The scrip had an average daily volume of 1.30 lakh shares in the past one quarter.

The stock hit a high of Rs 2137 and a low of Rs 2071 so far during the day. The stock had a 52-week high of Rs 2925 on 7 November 2007 and a 52-week low of Rs 970 on 16 March 2007.

The large-cap scrip had outperformed the market over the past one month till 25 February 2008, declining 3.69% compared to the Sensex’s decline of 3.87%. It had underperformed the market in the past one quarter, declining 21.99% compared to Sensex’s decline of 7.72%.

The company’s current equity is Rs 489.52 crore. Face value per share is Rs 10.

The current price of Rs 2127 discounts its Q3 December 2007 annualized EPS of Rs 63.07, by a PE multiple of 33.72.

The contract is to be executed within 27 months.

On 14 February 2008, Bharat Heavy Electricals (Bhel) bagged an order worth Rs 200 crore from Oil & Natural Gas Corporation for supplying oil field equipment.

On 8 February 2007, the company bagged an order worth Rs 3390 crore for setting up two units of 500 megawatt each in a thermal power station in northern Uttar Pradesh.

In December 2007, the company signed joint venture agreement with NTPC for establishment and operation of a joint venture company for engineering, procurement and construction business.

Bhel’s net profit rose 15.6% to Rs 771.90 crore on 14.4% growth in net sales to Rs 4964.14 crore in Q3 December 2007 over Q3 December 2006.

Bhel is engaged in manufacturing and distributing electrical, electronic, and mechanical and nuclear power equipment.