Maharatna PSU Inks Contract With Defence Ministry, YTD Return 113%

Shares of state-owned engineering company Bharat Heavy Electricals Ltd gained 3.48% today to hit fresh 52-week high after the company inked a contract worth Rs 2957 crore with Ministry of Defence. Current market price of BHEL Share is Rs 170.90 per share. Bharat Heavy Electricals Ltd shares already offered return of 108% in last 6-months and jumped 420% in last 3-years. Check details below:

Bharat Heavy Electricals Ltd Inks Contract With Defence Ministry: According to the BSE filing of the company issued on November 29, 2023, "BHEL has signed a contract with Ministry of Defence (MoD) for 16 nos. SRGMs against the LOI received earlier in March'23." The Defence Ministry on Tuesday revealed that it signed a contract with BHEL to obtain 16 upgraded SRGM, with the associated equipment or accessories for Indian Navy. The contract was inked under the Buy (Indian) category for Rs 2,956.89 crore, stated the release.

BHEL Inks MoC with Electricité de France S.A.: Earlier, BHEL issued a BSE filing on November 28 stating, "Bharat Heavy Electricals Limited (BHEL) and Electricité de France S.A., France (EDF), a French state-owned company and largest nuclear operator worldwide, have signed a Memorandum of Cooperation (MoC) to explore the opportunity to maximize the local content of the Jaitapur Nuclear Power Plant Project (6x1650 MWe) to be established by NPCIL in India."

Further, BHEL and EDF will also explore larger collaboration for the European Pressurized Reactors (EPRs) and for the NUWARD SMR (Small Modular Reactor), added the regulatory filing.

BHEL Q2 Performance: The state-owned company reported a consolidated net loss of Rs 238.12 crore for the quarter ended September 2023-24. BHEL reported a net profit of Rs 12.10 crore in the corresponding quarter of year ago period, as per the BSE filing. The company also declared a decline in its total income to Rs 5305.38 crore for the quarter under consideration from Rs 5418.74 crore in the same period a year ago. It declared a consolidated net loss of 343.89 crore in April- June period of this fiscal year.

BHEL Stock Outlook & Return: Bharat Heavy Electricals Ltd stock's 52-week high price is Rs 176.50 per share and 52-week low price is Rs 66.30 per share, respectively. BHEL shares hit 4th consecutive 52-week high in trade today. BHEL shares also saw spurt in volume by more than 1.83 times today. It has a market capitalisation of Rs 59,665.16 crore. Bharat Heavy Electricals shares jumped 24% in last 2-weeks only, rose 42% in last 1-month only, and offered return of 114% YTD. In last 5-years, BHEL stock gained 149%.

BHEL About: BHEL is India's largest engineering and manufacturing enterprise in the energy and infrastructure sectors. Established in 1964, it is a leading power equipment manufacturer globally and one of the earliest and leading contributors towards building an Aatmanirbhar Bharat. The Government of India has granted the MAHARATNA status to BHEL, according to its official website.

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