BHEL shares surged nearly 3% after the company announced a significant 10-year Memorandum of Understanding (MoU) with Nuovo Pignone International. The agreement aims to tap into compressor revamp opportunities within India’s fertilizer sector.
Under the MoU, BHEL will act as the lead bidder for compressor train revamp projects, while Nuovo Pignone International will serve as a nominated vendor with defined responsibilities. This strategic partnership is expected to boost BHEL’s presence in the high-potential fertilizer industry.
Despite the short-term gain, BHEL stock remains below several key moving averages—specifically the 5-day, 10-day, 100-day, 150-day, and 200-day averages—indicating potential resistance levels. However, it trades above its 20-day, 30-day, and 50-day moving averages, signaling short-term strength.
The Relative Strength Index (RSI) of 54.6 suggests the stock is neither overbought nor oversold, reflecting a balanced sentiment. Over the past year, BHEL has declined 17%, but it has delivered a staggering 200% return over two years, showcasing its multibagger potential.
BHEL shares opened at ₹216.00 today, reaching a high of ₹217.99 and a low of ₹214.55 during intraday trading. The stock remains significantly below its 52-week high of ₹335.35 but above its 52-week low of ₹176.00.
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