BHEL Share Price Witnesses Huge Boom as Company Bags Order from NTPC
The shares of Bharat Heavy Electricals Limited (BHEL), a state-owned company, saw a significant surge on Friday. The stock was trading at Rs 135.95, marking a 13 percent increase. BHEL also reached a new 52-week high price level on the same day. Investors are showing interest in buying BHEL shares after the company secured a substantial order from NTPC.
The order entails BHEL setting up a 2×800 MW supercritical thermal power plant in Chhattisgarh’s Lara. As a government-owned Maharatna company, BHEL’s shares closed at Rs 135.50 on September 1, 2023, with an 11.75 percent rise.
Brokerage firm Antique Stock Broking has recommended buying BHEL shares and set a price target of Rs 158 lakh. The order from NTPC is estimated to be worth between Rs 11,000-12,000 crore. The brokerage firm believes BHEL’s order book size could exceed Rs 60,000 crore in FY2024-26.
Over the past 5 months, Bharat Heavy Electricals Limited has provided investors with over 97 percent profit. The stock, which was trading at Rs 68.07 on April 5, 2023, reached Rs 135.95 on September 1, 2023. In the last year, BHEL’s stock has yielded a 126 percent return, starting at Rs 60.10 on September 1, 2022.
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