Shares of Bharat Heavy Electrical Limited (BHEL) were trading 3% higher on 29 July after the company announced securing Rs 10,000 crore order for 1,600 megawatt project from Damodar Valley Corporation (DVC). 

In its regulatory filing, the company said, “Bharat Heavy Electricals Limited (BHEL) has received a Letter of Intent (LOI) from Damodar Valley Corporation (DVC) for setting up the 2×800 MW Koderma Phase-II Thermal Power Station at Koderma district, Jharkhand on EPC basis.”

The scope of the project involves the supply of crucial equipment, including turbines, boilers, generators, and associated auxiliaries, along with electrical and control & instrumentation (C&I) systems, and balance of plant packages.

The company will also be responsible for erecting, commissioning, and civil works that are required for the power station. The project has to be completed in 52 months. 

In its quarterly earnings for April-June, the company reported a 25.6% year-on-year decline in consolidated net profit to Rs 489.6 crore during the quarter from Rs 658 crore reported in the same quarter last year. The increase in net profit was due to higher expenses. 

Revenue from operations during the quarter stood at Rs 8,260.3, marking a marginal increase of 0.4% YoY from Rs 8,227 crore in the same quarter last year. 

At 12:11 pm, the shares of BHEL were trading 1.34% higher at Rs 321.50 on NSE.

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