Mumbai, Feb 12: PSU major Bharat Heavy Electricals Limited (BHEL) has bagged an order for setting up a 330MW hydroelectric plant in J&K, according to a statement issued by the company.
Valued at Rs 27.61 billion, the turnkey order for the Kishanganga hydroelectric project of NHPC was bagged by Hindustan Construction Company (HCC) along with BHEL.
Of the turnkey contract, BHEL has been awarded the order for the complete electro-mechanical package.
HCC will be responsible for the complete civil works and the hydro-mechanical package. BHEL would undertake design, manufacture, supply, installation and commissioning of the entire electro-mechanical works including three hydro turbines, excitation system, transformers, microprocessor-based controls, monitoring and protection system, switchyard, and other auxiliaries.
BHEL is already executing the electro-mechanical works for Nimoo Bazgo hydroelectric (3×15MW) and Chutak hydroelectric (4×11MW), both in Jammu and Kashmir, for NHPC.
Meanwhile, Indiabulls Research has recommended an upgraded “hold” rating on BHEL with a target of Rs. 2453 in view of its increased net sales of 17.9% year on year to Rs.71 bn on account of robust order inflows and a steady execution rate. Lower commodity prices and better inventory management improved the gross margins by 269 basis points year on year to 44.5% and expectation of good order inflows and on better-than-expected results and an overall positive outlook.
BHEL closed at 2319.70, up 0.76 percent on the BSE on Thursday.

Lastupdate on : Fri, 12 Feb 2010 21:30:00 Makkah time
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