New Delhi: Shares of Bharat Heavy Electricals rose nearly 5 percent on the BSE on Thursday after company said that it won a Rs 78 billion ($1.28 billion) contract for a power project.
The contract is for setting up a 1,320 MW supercritical thermal power project on EPC (Engineering, procurement & construction) basis from Tamil Nadu generation and distribution corporation (TANGEDCO).
At 2:17 p.m., the stock was up 8.36 per cent and was trading at Rs 219.4, up Rs 16.80.
The order is for setting up a 2x660 MW coal-fired thermal power project at Ennore Special Economic Zone in Tamil Nadu.
The power plant will be constructed on a reclaimed ash pond, calling for specialised civil design, utilising an otherwise barren land.