BHEL shares jump over 14% after winning thermal power project orders, including Adani Power contract

As part of the , BHEL will supply such as boilers, turbines, generators, and related auxiliaries, and will also oversee the of the power project utilizing .

The boilers and turbine generators will be manufactured at the company's plants in Trichy and Haridwar, respectively. BHEL stated that the order stipulates the supply of unit-1 within 35 months and unit-2 within 41 months.

Additionally, BHEL received an order from Mirzapur Thermal Energy (UP) Private Ltd to construct a 2x800 MW thermal power project at Mirzapur Phase I, in Uttar Pradesh. This contract is also valued at over Rs 3,500 crore.

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As of 11:28 am, the stock was trading 13.5% higher at Rs 290 on the BSE. The stock has delivered multibagger returns, having rallied 240% in the last year and 470% in the last two years.

In Q4 FY24, BHEL reported a decline of over 25% in its consolidated net profit to Rs 489.62 crore for the March quarter, compared to Rs 658.02 crore in the same quarter of the previous year. Total income for the quarter rose marginally to Rs 8,416.84 crore from Rs 8,338.61 crore in the year-ago period.

Technically, the relative strength index (RSI) of the stock is currently at 39.4. An RSI below 30 is considered oversold, while above 70 is overbought, according to Trendlyne data. Additionally, the MACD is at 6.4, which is above its center line, but below the signal line.

The stock is trading higher than the 5-day, 50-day, 100-day, 150-day, and 200-day simple moving averages (SMAs), but lower than the 10-day, 20-day, and 30-day SMAs.

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