BHEL shares hit a day high of Rs 425.30, up 6%, after it won four Adani Power orders worth up to Rs 28,000 crore.

Bharat Heavy Electricals Limited (BHEL) told exchanges on 4 November that Adani Power Limited has given it four contracts for new thermal power projects, each with two 800 MW units.

Every contract is estimated at Rs 5,000 crore to Rs 7,000 crore before GST, which puts the combined value between Rs 20,000 crore and Rs 28,000 crore. Four projects. One customer.

The job covers boilers, turbines and generators, along with the extra equipment and services that go with them.

In plain terms, the boiler makes steam, the steam spins the turbine and the generator turns that motion into electricity. Together, the four projects add up to 6,400 MW.

These are domestic orders for the state-owned equipment maker, and BHEL said they are not related-party deals. Work will follow Adani Power’s project requirements.

The order follows a sharp jump in September quarter earnings.

Consolidated net profit more than doubled to Rs 820.94 crore from Rs 374.89 crore a year earlier, and total income rose 24% to Rs 9,553.01 crore. Power was the bigger earner.

That business brought in Rs 6,637.90 crore, up from Rs 5,675.64 crore, while the industry business booked Rs 2,662.45 crore against Rs 1,836.16 crore.

On 17 July, the stock also turned ex-dividend for a Rs 1.40 per share payout, against Re 0.50 last year.

At 10:51 am, BHEL shares were trading at Rs 423.05 on NSE, up by 5.76% from the previous close of Rs 400.00.

About 100.50 lakh shares, worth Rs 419.78 crore, had changed hands by then.

It’s still about 9% below its 52-week high of Rs 464.00 from 14 October, though it has gained 45.19% in 2026.

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