India's BHEL gains on 61 bln rupee order win from NTPC

ABB India

23/09/2024 05:15

** Shares of Bharat Heavy Electricals (BHEL)  BHEL.NS  climb
as much as ~3% to 274 rupees, last up 1.7% 
    ** The power and industrial equipments maker got order worth
61 bln rupees (about $731 mln) from NTPC  NTPC.NS  
    ** Order for supply of engineering, procurement and
construction parts for a thermal power plant 
    ** Analysts' avg rating on stock is "hold", in-line with
rating on peers Power Grid Corp  PGRD.NS  and ABB India  ABB.NS 
- LSEG data 
    ** Median PT on BHEL is at ~23% discount on last close 
    ** Stock up ~40% YTD vs 38% rise in Nifty public sector
enterprises index  .NIFTYPSE , of which BHEL is a constituent 


($1 = 83.4510 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))