Alstom India surges on bagging contract from BHEL

Alstom India is currently trading at Rs. 399.90, up by 7.70 points or 1.96% from its previous closing of Rs. 392.20 on the BSE. The scrip opened at Rs. 399.05 and has touched a high and low of Rs. 403.00 and Rs. 396.00 respectively. So far 5086 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 440.00 on 02-Apr-2014 and a 52 week low of Rs. 285.00 on 06-Aug-2013. Last one week high and low of the scrip stood at Rs. 403.00 and Rs. 376.00 respectively. The current market cap of the company is Rs. 2682.04 crore. The promoters holding in the company stood at 68.56%, while Institutions and Non-Institutions held 15.92% and 15.52% respectively. Alstom has been awarded a contract by Bharat Heavy Electricals (BHEL) worth close to €30 million to supply components and services for the 2x660 MW Banharpalli Super Thermal Power Project (STPP) located in Jharsaguda, Orissa. Under the scope of the contract, Alstom will co-operate with BHEL in designing the boilers and supply identified pressure parts of the 660 MW supercritical boilers, along with windboxes. It will also assist BHEL with technical advisors during the erection and commissioning of the units. The key components will be manufactured in Alstom’s manufacturing facilities in Concordia (USA), as well as in Durgapur (India). The units I & II are expected to be commissioned by 2018. The new Banharpalli contract is a confirmation of the strong cooperation established since 2005 with BHEL. It comes in addition to contracts signed with BHEL between 2008 to 2014 for supercritical boilers in Barh II, Krishnapatnam, Bara, Yermaras, Bellary, Mouda, Nabinagar, Gadarwara, Suratgarh and most recently the Darlipalli and North Karanpura projects in India.