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BHEL wins Rs 10k crore order for thermal power project in Bangladesh

Bharat Heavy Electricals Limited (BHEL) on Tuesday announced that it has received the largest ever export order, valued at Rs 10,000 crore for setting up 1,320 MW (2×660 MW) Maitree Super Thermal Power Project in Bangladesh.
The company in its filing to the Exchange said that it has won the contract through tough international bidding. The order has been secured from Bangladesh India Friendship Power Company Pvt. Ltd., (BIFPCL), a 50:50 JV company of NTPC, India; and BPDP, Bangladesh.
BHEL has arranged debt financing for the project from the EXIM Bank of India, for which the loan agreement between EXIM Bank of India and BIFPCL was signed in March 2017.
BHEL’s scope of work in the project includes design, engineering, manufacture, supply, construction, erection, testing and commissioning of 2×660 MW thermal sets with ultra-supercritical parameters on a turnkey basis.
Stock view:
Bharat Heavy Electricals Ltd is currently trading at Rs 180.6, up by Rs 4.4 or 2.5% from its previous closing of Rs 176.2 on the BSE.
The scrip opened at Rs 176.8 and has touched a high and low of Rs 182.65 and Rs 176.1 respectively. So far 6360070(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 43126.71 crore.
The BSE group ‘A’ stock of face value Rs 2 has touched a 52 week high of Rs 180.8 on 07-Apr-2017 and a 52 week low of Rs 113.9 on 24-Jun-2016. Last one week high and low of the scrip stood at Rs 178.1 and Rs 167.9 respectively.
The promoters holding in the company stood at 63.06 % while Institutions and Non-Institutions held 32.32 % and 4.62 % respectively.
The stock is currently trading above its 50 DMA.