BHEL rallies 5% on reports of outbidding L&T in NLC's Rs 19,422-cr Odisha project

Shares of BHEL gained nearly 5 percent in early trades on reports that the engineering and manufacturing enterprise had emerged as the lowest bidder for NLC's Odisha project, outbidding L&T. At 9:50am, the stock was trading at Rs 202.40.

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According to multiple market reports on January 1, BHEL ( Bharat Heavy Electricals Limited) has won a  Rs 19,422-crore job from NLC for a Talabira project. While Moneycontol could not independently verify the details, multiple reports say that BHEL was the lowest bidder for the Rs 19,422-crore project, beating out L&T. The reports add that under this turnkey contract, BHEL will build three ultra supercritical units of 800 MW each for NLC India at Talabira, Odisha. Additional chatter suggests that L&T had not bid for the contract and that the order is unlikely in FY2024 and no work is expected in FY2025 as the project doesn't have land assigned yet.

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