A day after tumbling over 10 per cent, shares of state-owned company Bharat Heavy Electricals Limited (BHEL) gained nearly 4 per cent on Friday as the company secured an order from Bharat Coal Gasification and Chemicals Limited (BCGCL) for coal gasification and raw syngas cleaning facilities for the coal-to-ammonium nitrate project at Jharsuguda, Odisha. The stock opened gap up with a gain of 2.5 per cent at Rs 279.10 against the previous close of Rs 272.30 on the BSE. The scrip gained further amid a spurt in Volume by more than 2.11 times and touched the intraday high of Rs 285.50, a gain of 4.84 from the last closing. As of last seen, the stock was trading at Rs 284.70, up 4.55 per cent, and the company's market cap stood at Rs 99,099.52 crore.
Bharat Coal Gasification and Chemicals Limited (BCGCL) is a joint venture company of Bharat Heavy Electricals Limited (BHEL) and Coal India Ltd (CIL).
Technically, the stock trades higher than the 100-day and 200-day moving averages but lower than 5-day, 20-day and 50-day moving averages. The stock has a 52-week high of Rs 305.85, hit on January 7, 2025, and a 52-week low of Rs 176.
PSU secures order from BCGCL
The company has secured an order from Bharat Coal Gasification and Chemicals Limited for coal gasification and raw syngas cleaning facilities for the coal-to-ammonium nitrate project at Jharsuguda, Odisha.
The order covers engineering, procurement, construction, commissioning and performance guarantee of the coal gasification and raw syngas cleaning facilities, which form the core process units of the integrated chemical complex. The order is worth
The scope of work includes the gasifier and associated auxiliaries, steam generation plant, air separation unit, coal and ash handling systems, and cooling tower facilities.
The project will deploy BHEL’s in-house developed Pressurised Fluidised Bed Gasification (PFBG) technology and mark its first commercial-scale application.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
