BHEL secures Rs.5600 cr order from TANGEDCO; scrip zooms 7.8%

This is the second 800 MW rating supercritical order awarded to BHEL by TANGEDCO in less than a month, reinforcing BHEL's position at the forefront of the power equipment industry in India.

BHEL climbed 7.8% to Rs.99.95 on BSE. The company has bagged an order worth Rs. 5,600 crore for 1,600-megawatts (MW) power plant from Tamil Nadu Generation and Distribution Corporation.  This is the second 800 MW rating supercritical order awarded to BHEL by TANGEDCO in less than a month, reinforcing BHEL's position at the forefront of the power equipment industry in India.

The scrip opened at Rs. 96.95 and has touched a high and low of Rs. 99.8 and Rs. 95.75 respectively. So far 7228980(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 22689.25 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 289.85 on 21-Jul-2015 and a 52 week low of Rs. 90.4 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs. 98.2 and Rs. 90.4 respectively.

The promoters holding in the company stood at 63.06 % while Institutions and Non-Institutions held 33.08 % and 3.86 % respectively.

The stock is currently trading above its 200 DMA.