Bharat Heavy Electricals gets two orders worth Rs 1,000 crore from Telangana.
BHEL shares surged 5.4 percent intraday Wednesday, in addition to 3.3 percent rally in previous session after CLSA upgraded the stock to buy from sell on improved EPS visibility on the legal victory by its client Tamil Nadu Generation and Distribution Corporation (TANGEDCO) in Ennore project.
The company won 5X800 MW Yadadri order, the single largest order in history, from Telangana State Power Generation Corporation (TSGENCO) in Q1FY16.
TSGENCO has also entered into a preliminary agreement with BHEL for construction of new thermal power plants totaling 6,000 MW in the state.
The order has been placed on the company by the Telangana State Power Generation Corporation Limited (TSGENCO).
The key equipment for the contract will be manufactured at BHEL's Trichy, Hyderabad, Haridwar, Bhopal, Ranipet, Bangalore and Jhansi plants. The company's power sector western region is responsible for civil works and erection, commissioning of the equipment.