Bharat Heavy Electricals (BHEL) share price gained over 2 percent in the early trade on Monday after the PSU firm received supercritical power orders worth more than Rs 11,000 crore from Adani Power and its subsidiary.
The counter rose to the day's high of Rs 304 per share on NSE, up 2.63 percent from its previous close.
At 9.54 am, BHEL stock was trading at 299.95 apiece, up 1.27 percent. The uptrend in the scrip was seen after the company announced receiving orders from Adani Power and its subsidiary Mahan Energen Limited.
The company in an exchange filing said "Bharat Heavy Electricals Limited (BHEL) has signed contract agreement with Adani Power Ltd. and its subsidiary (Mahan Energen Ltd.) for setting up 3 nos. Supercritical Thermal Power projects (each of 2x800 MW rating) in Kawai, Rajasthan & Mahan, Madhya Pradesh."
The order is for supply of equipment - Boiler, Turbine, Generator and associated auxiliaries along with control and instrumentation.
"Supply of projects to be completed in 49 months (Kawai Phase-II), 52 months (Kawai Phase-III) and 55 months (Mahan Phase-III)," the company said in a statement.
Earlier in August, the state-owned company secured a 1,600 MW project from Damodar Valley Corporation (DVC). The coal-based unit will be set up in the Koderma district of Jharkhand on an EPC (Engineering, Procurement, and Construction) basis, BHEL said in a statement.
Bharat Heavy Electricals Ltd (BHEL) is one of the largest engineering and manufacturing companies in India.
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