Order buzz powers Bhel

Bharat Heavy Electricals gained 2.06% to Rs 1810 at 12:31 IST on BSE on reports the company has won orders worth around Rs 2030 crore for supply and installation of the main plan package at Nabinagar thermal power plant project in Bihar.

On BSE, 2.70 lakh shares were traded in the counter. The scrip had an average daily volume of 2.78 lakh shares in the past one quarter.

The stock hit a high of Rs 1827 and a low of Rs 1755 so far during the day. The stock had a 52-week high of Rs 2925 on 7 November 2007 and a 52-week low of Rs 1197.50 on 11 May 2007.

The large-cap scrip had underperformed the market over the past one month till 21 April 2008, declining 4.05% compared to the Sensex's return of 11.63%. It had also underperformed the market in the past one quarter, declining 10.67% compared to Sensex's return of 0.06%.

The company's current equity is Rs 489.52 crore. Face value per share is Rs 10.

The current price of Rs 1810 discounts its Q3 December 2007 EPS of Rs 63.07, by a PE multiple of 28.70.

On 17 March 2008, Bharat Heavy Electricals (Bhel) secured orders worth around Rs 2,030 crore for an upcoming 1,000-megawatt thermal power project.

On 29 February 2008, Bhel received an order worth Rs 1893 crore from GSPC Pipavav Power Co in western India for a 700 megawatt plant.

On 14 February 2008, the company bagged an order worth Rs 200 crore from Oil & Natural Gas Corporation for supplying oil field equipment.

On 8 February 2007, the company bagged an order worth Rs 3390 crore for setting up two units of 500 megawatt each in a thermal power station in northern Uttar Pradesh.

Bhel's net profit rose 15.6% to Rs 771.90 crore on 14.4% growth in net sales to Rs 4964.14 crore in Q3 December 2007 over Q3 December 2006.

Bhel is engaged in manufacturing and distributing electrical, electronic, and mechanical and nuclear power equipment.