Shares of Bharat Heavy Electrical Ltd (BHEL), a state-run company, rose 2% on Tuesday, 30 September, after receiving a significant order for two projects from the Madhya Pradesh Power Generating Company Limited (MPPGCL).

The order, worth between Rs 13,000 crore and Rs 15,000 crore, pertains to EPC packages for 1×660 megawatt (MW) Amarkantak Unit No. 6 and 1×660 MW Satpura Unit No. 12 Supercritical Thermal Power Plants in Madhya Pradesh. The order value excludes taxes and customs.

The order, which BHEL secured through an open tender enquiry, includes the supply of equipment, erection and commissioning, and other civil works, according to an exchange filing.

BHEL is expected to complete both projects within 57 months after the notification of award.

BHEL’s order book reached Rs 2 lakh crore in the June quarter, up 51% over the previous year.  Order inflows grew by 42% during the quarter to Rs 13,445 crore.

In the June quarter, the company’s net loss increased to Rs 455 crore, while its EBITDA loss increased to Rs 537 crore compared to the same period last year.

At 2:45 pm, the shares of BHEL were trading 1.88% higher at Rs 238.86 on NSE.

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