BHEL shares rose to a day high of Rs 437 on 11 November after the firm bagged a Power Grid order worth up to Rs 900 crore for Gujarat.

Bharat Heavy Electricals Limited told exchanges that it received a Notification of Award from Power Grid Corporation of India, acting for its project company.

The contract covers two synchronous condensers at Kalyanpur in Gujarat.

In simple terms, these are large machines that keep voltage steady on transmission lines.

They help the grid handle power from renewable energy projects in the Jam Khambhaliya Renewable Energy Zone.

BHEL will handle everything from design and manufacturing to installation and commissioning.

The order is valued between Rs 600 crore and Rs 900 crore, excluding GST, and the work must finish in 35 months. This is the second such win in a week.

On 7 November, BHEL disclosed a similar order from Power Grid for two condensers of the same size at the Barmer-II high-voltage direct current terminal station in Rajasthan.

That contract is in the same value range and has a 44-month timeline. Separately, BHEL received good news on tax.

Telangana’s Commercial Tax Department dropped the full GST demand of Rs 207.26 crore for 2022-23, along with interest and penalty.

The order is dated 7 November and reached the company on 9 November. BHEL said it expects no financial impact.

A Rs 194.62 crore demand for 2023-24 is still under adjudication. The company also posted September-quarter results.

Revenue rose 23.8% to Rs 9,300 crore from Rs 7,511.80 crore, while net profit more than doubled from a year earlier.

At 12:59 pm, BHEL shares traded at Rs 431.90 on NSE, up Rs 8.95 or 2.12% from the previous close of Rs 422.95.

The stock has gained 48.19% so far this year and 51.12% over one year. Its 52-week high is Rs 464, set on 14 October 2026.

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