Shares of Bharat Heavy Electricals Limited increased by more than 2% on Friday following the company’s securing of a significant order worth over Rs 21,000 crore from Meja Urja Nigam Pvt Ltd for a power project in Uttar Pradesh. The order involves the setting up of the 3×800 MW Meja supercritical thermal power project Stage-II at Prayagraj, with the contract covering various aspects like engineering, procurement, and construction works to be completed in nearly six years.
Meja Urja Nigam Pvt Ltd, a joint venture between NTPC Ltd and Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd, awarded the order to Bharat Heavy Electricals Limited, emphasizing that it does not fall under related-party transactions. This development comes shortly after BHEL secured another substantial order from a Nigerian entity, Dangote Petroleum Refinery & Petrochemicals Free Zone Enterprise, for gas turbine generator packages.
BHEL’s stock price surged by 2.86% to Rs 400.35 per share on Friday, reflecting a positive market response to the recent order wins and business performance. The company reported a significant increase in its consolidated net profit for the January to March quarter of financial year 2025-26, along with notable growth in turnover and order inflows during the year.
