Rs 23,000 crore order: This PSU company receives an order from Ministry of Railways!
The stock returned 19.36 per cent in the last 6 months and since it was listed on BSE (July 14, 1995) it returned over 887 per cent.
Bharat Heavy Electricals Ltd (BHEL) and Titagarh Wagons Ltd has been awarded a contract for 80 Vande Bharat Trains, valued at more than Rs 23,000 crore (excluding taxes and duties) from Ministry of Railways.
The order value comprises supply 80 trains at the rate of Rs 120 crore/Train aggregating to Rs 9,600 crore (excluding taxes & duties) and balance of Rs 13,400 crore for maintenance of the same for a period of 35 years. This order is a major milestone in the company’s diversification drive. The supply of trains will be completed in 72 months from the date of the letter.
On Thursday, shares of Bharat Heavy Electricals Ltd (BHEL) surged 1.05 per cent to an intraday day high of Rs 72.39 per share from its previous closing of Rs 71.64 and Titagarh Wagons surged 0.14 per cent to an intraday high of Rs 290.40 per share. BHEL has a 52-week high of Rs 91.45 and a 52-week low of Rs 41.40.
Bharat Heavy Electricals Ltd (BHEL) is an integrated power plant equipment manufacturer that designs, engineers, manufactures, erects, tests, commissions and services a wide range of products and services for the core sectors of the economy.
Talking about the financials, BHEL has a market cap of over Rs 25,000 crore. The company reported positive results in its both quarterly and annual consolidated financial statements. The President of India owns the majority of the company (63.17 per cent), with the remainder divided among FIIs, DIIs and the general public.
In the last six months, the stock returned 19.36 per cent and since it was listed on BSE (July 14, 1995) it returned over 887 per cent. Investors should keep an eye on this multibagger PSU stock.