India's BHEL rises after JV wins 54 billion rupee order

Bharat Heavy Electricals

09/01/2026 05:22

** Shares of Bharat Heavy Electricals (BHEL) BHEL.NS rise 3.4% to 281 rupees

** State-owned manufacturer's JV with Coal India COAL.NS wins order worth 54 billion rupees ($599.80 million) to design, supply equipment and commission coal-to-ammonium nitrate project in East India's Odisha

** COAL up 0.3%

** BHEL logged 10.5% decline on Thursday after Reuters reported that India's finance ministry plans to scrap restrictions on Chinese firms bidding for government contracts

** Stock rated "hold" on avg by 19 analysts; median PT is 250 rupees - data compiled by LSEG

** In 2025, BHEL rose about 25%, COAL advanced nearly 4%

($1 = 90.0300 Indian rupees)

(Reporting by Urvi Dugar in Bengaluru)

((UrviManoj.Dugar@thomsonreuters.com;))