India's BHEL near 14-yr high on report of $2 bln contract win

NLC India

01/01/2024 04:42

** Shares of Bharat Heavy Electricals Ltd  BHEL.NS  jump
5.7% to a near 14-yr high of 204.65 rupees in early trade
    ** BHEL is top bidder for 194.22 bln rupees (nearly $2 bln)
contract by NLC India to build a thermal power plant in Odhisha
state, per a media report
    ** BHEL did not immediately respond to a request for comment
    ** Trading vol 30 mins into the session is already equal to
30-day daily avg
    ** Stock gained ~144% in 2023 and has been trading above its
200-day simple moving avg since Aug. 2022
 
 ($1 = 83.1600 Indian rupees)

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