BHEL shares in focus after winning Rs 6,200-crore order from Damodar Valley Corporation

Bharat Heavy Electricals Ltd (BHEL) shares will be in focus on Wednesday after the company announced it has secured a Rs 6,200-crore order from Damodar Valley Corporation (DVC) for the steam generator island package of the 2x660 MW Raghunathpur Thermal Power Station Phase-II project in Purulia, West Bengal.

The scope of work includes the supply, erection, testing, and commissioning of steam generators and auxiliaries, electrostatic precipitators (ESP), flue gas desulphurisation (FGD) systems, ash handling systems, and related electrical and control instrumentation (C&I) works. Additionally, BHEL will undertake associated civil works.

The execution timeline for the project is set at 48 months and 52 months for the respective units.


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BHEL shares target price

As per Trendlyne data, the average target price of the stock is Rs 212, which indicates an upside of 6% from the current market prices. The consensus recommendation from 17 analysts for the stock is a 'Hold'.

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BHEL technical indicators

Technically, the stock's relative strength index (RSI) is at 43.8. According to Trendlyne, an RSI below 30 is considered oversold, while above 70 indicates overbought conditions. Additionally, the MACD is at -6, which is below its Center Line, this is a bearish indicator.

The stock is trading below its 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages (SMAs).

BHEL shares performance

On February 11, BHEL's shares closed 2.2% lower at Rs 198.5. The stock has dropped 34% over the past six months but surged 255% in the last two years. The company’s market capitalization stands at Rs 70,616 crore.

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