Shares of Bharat Heavy Electricals Ltd (BHEL) saw a significant increase on Monday, gaining 2% after the company announced a major contract win. The public sector unit has secured a ₹10,000 crore contract from Damodar Valley Corporation (DVC) to construct the 2×800 MW Koderma phase-II thermal power station in Jharkhand’s Koderma district.
“Bharat Heavy Electricals Limited (BHEL) has received a Letter of Intent (LOI) from Damodar Valley Corporation (DVC) for setting up the 2×800 MW Koderma Phase-II Thermal Power Station at Koderma district, Jharkhand on an EPC basis,” according to a stock exchange filing.
As of 12:10 PM, BHEL’s stock was trading at ₹322.55 on the National Stock Exchange (NSE), reflecting a 1.65% increase. This latest order boosts the company’s prospects, contributing to its recent strong performance in the stock market.
BHEL has seen a remarkable rise in its share price, with a 213% increase over the past year and a 60% gain in 2024.
