BHEL bags Rs 1,200-1,500 Cr order from SAIL for Captive Power Plant
BHEL · price
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On the reaction day the stock moved 1.1 pts less than Nifty Midcap 150 and 0.8 pts less than its Heavy Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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BHEL has received a Letter of Acceptance from Steel Authority of India Limited (SAIL) for a Captive Power Plant (CPP) package at SAIL's IISCO Steel Plant, Burnpur, as part of a 4.08 MTPA expansion. The turnkey order covers design, engineering, manufacture, supply, erection, commissioning and performance testing, excluding civil work. Order value is in the range of Rs 1,200 to Rs 1,500 Cr excluding GST. Commissioning is required within 39 months from the contract effective date. The order was awarded via global tender by a domestic PSU entity, and is not a related party transaction.
Strengthens BHEL's revenue visibility over the next 39 months; sizeable domestic PSU order boosts order book with no related party concerns.