Bharat Heavy Electricals Ltd (BHEL) saw its shares rise 3% on Monday after the company announced that it won a Rs 4,000 crore order from a wholly owned subsidiary of Adani Power, Mahan Energen (formerly known as Essar Power MP) for a power project in Madhya Pradesh.

In an exchange filing on Monday, the public sector undertaking (PSU) stated that it would supply heavy power-generating equipment such as boilers, turbine generators and associated auxiliaries along with control and instrumentation mechanism to Mahan Energen for an upcoming 2×800 MW power project based on supercritical technology at Bandhaur village in Madhya Pradesh. 

The timeline for completion of the supply of equipment is 31 months. The boiler and turbine generator will be manufactured at BHEL’s Trichy and Haridwar plants. 

The company will also supervise, erect and commission the power project. The deadline for the commissioning of the power project is 35 months, BHEL said in a filing to the stock exchanges. 

The current order book of the state-owned company crossed Rs 1 lakh crore, with a 17% increase in new orders received in 2022-23 to Rs 23,548 crore from Rs 20,078 crore in 2021-22. 

At 03:20 pm, shares of BHEL were trading at Rs 100.90, 2.96% above its previous closing price on the National Stock Exchange (NSE).