BHEL rises on inking MoU with Indonesian firm to set up power plant

Bharat Heavy Electricals (BHEL) is currently trading at Rs. 270.15, up by 1.90 points or 0.71% from its previous closing of Rs. 268.25 on the BSE. The scrip opened at Rs. 270.80 and has touched a high and low of Rs. 278.75 and Rs. 259.10 respectively. So far 1206810 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 278.75 on 20-May-2014 and a 52 week low of Rs. 100.35 on 20-Aug-2013. Last one week high and low of the scrip stood at Rs. 278.75 and Rs. 200.05 respectively. The current market cap of the company is Rs. 65240.78 crore. The promoters holding in the company stood at 63.06% while Institutions and Non-Institutions held 32.61% and 4.33% respectively. Bharat Heavy Electricals (BHEL) has entered into initial agreement with PT Star Vyobros, Indonesia for setting up a 200 MW coal fired plant in the island nation. Though, the financial details of the pact were not divulged by the company. Earlier, BHEL signed one more memorandum of understanding (MoU) with PT APAC INTI, Indonesia for setting up a 25-30 MW Solar Photovoltaic based power plant in the Java region in Indonesia. In Indonesia, BHEL is executing a coal-fired power plant for PT CKP, besides having commissioned two more coal-fired power plants in recent years. BHEL has been committed to the nation's power development programme and has reaffirmed its commitment to the Indian Power Sector by equipping itself by way of contemporary technology, state-of-the-art manufacturing facilities and skilled technical manpower.