BHEL Shares Surge Post Rs 3,500 Crore Order from Adani Power

Shares of BHEL soared by 9 per cent after the company announced a substantial order worth over Rs 3,500 crore from Adani Power Limited for a thermal power project in Raipur. The market valuation of BHEL saw a significant increase, reflecting investor confidence.

In a remarkable turn of events, shares of Bharat Heavy Electricals Limited (BHEL) soared 9 per cent on Thursday following an announcement of a substantial Rs 3,500 crore order from Adani Power Limited.

This order is set to propel a new thermal power project in Raipur, Chhattisgarh.

During the day's trading session on the BSE, BHEL's stock peaked at a 14.57 per cent increase, settling at Rs 278.15 per share, reflecting growing investor confidence.

On the NSE, the stock climbed 14.48 per cent during intra-day trading and closed 9 per cent higher at Rs 278.50.

As a result, BHEL's market valuation appreciated by Rs 7,973.93 crore, reaching Rs 96,853.59 crore.

Shares of Adani Power also experienced a surge, rising 8.79 per cent during the day on the BSE and closing at Rs 749.20, up 3.17 per cent.

BHEL's recent contract includes the supply of essential equipment like boilers, turbines, and generators, alongside supervision for the erection and commissioning of the 2x800 MW power project, utilizing Supercritical Technology.

The manufacturing of these components will be undertaken at BHEL's Trichy and Haridwar plants.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)