BHEL wins Large Order

Bharat Heavy Electricals declined 2.64% to Rs 1829.40 at 12:41 IST on BSE despite securing orders worth around Rs 2030 crore for an upcoming 1,000 megawatt thermal power project.

The stock hit a high of Rs 1878 and a low of Rs 1765 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 company’s current equity is Rs 489.52 crore. Face value per share is Rs 10.

The current price of Rs 1829.40 discounts its Q3 December 2007 annualized EPS of Rs 63.07, by a PE multiple of 29.

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.

Bharat Heavy Electricals (Bhel) is increasing capacity to 15,000 megawatt (MW) per annum over the next two years.

On 29 February 2008, the company received an order worth Rs 1893 crore from GSPC Pipavav Power Co in western India for a 700 megawatt plant.

On 14 February 2008, 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.

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