Shares of BHEL and Crompton Greaves rallied more than 2 percent intraday Monday on getting orders from Telangana Government and Power Grid , respectively. Ahluwalia Contracts (up 9.4 percent intraday), Transformers & Rectifiers (up 19.2 percent) and Centum Electronics (up 7.8 percent) too saw buying interest on big orders.
State-run power equipment maker BHEL has received an EPC order for setting up a 4×270 MW thermal power plant in the state from Telangana state utility, Telangana State Power Generation Corporation. The contract is valued at over Rs 5,000 crore.
Significantly, the project is targeted to be commissioned in 24 months on fast track basis, said the company in its filing to the exchange. “TSGENCO has also entered into an MoU with BHEL for construction of new thermal power plants totaling 6,000 MW in the state. All these power plants are expected to commence generation within the next three years to meet the state’s increasing demand for power,” it added.
Meanwhile, Crompton Greaves, the leader in management and application of electrical energy, has bagged an order worth Rs 115 crore from central transmission utility Power Grid Corporation for supply of power equipment.
“The scope of this Rs 115 crore contract from Power Grid, to be executed in 20 months, include design, engineering, manufacture, shop testing, supply, erection testing and commissioning at site, and other associated civil works,” Avantha Group said in a statement. These reactors will be installed at Power Grid’s Vemagiri and Srikakulam sub-stations in Andhra Pradesh.
Transformer maker Transformers and Rectifiers India has received the third party export order amounting to Rs 440 crore. With this order, the company’s current order book stood around Rs 800 crore.
Realty company Ahluwalia Contracts also secured orders worth Rs 429.61 crore for construction of institutional/residential building while Centum Electronics has bagged orders worth Rs 100 crore from an Indian Defence Enterprise for the development and delivery of mission critical subsystems. “The deliveries are required to be completed over a period of two years,” said Centum.
At 14:22 hours IST, the scrip of Bharat Heavy Electricals was quoting at Rs 236.35, up Rs 3.80, or 1.63 percent and Crompton Greaves climbed 2.26 percent to Rs 167.55.
Ahluwalia Contracts India surged 9 percent to Rs 257.90, Transformers & Rectifiers India gained 17.62 percent at Rs 196.90 and Centum Electronics rose 6.4 percent to Rs 774 on the Bombay Stock Exchange.
Posted by Sunil Shankar Matkar