BHEL surges over 6 per cent on bagging new power plant deal
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Bharat Heavy Electricals Limited (BHEL) share price surged over 6 per cent on Wednesday after Bangladesh-India Friendship Power Company (Pvt) Limited (BIFPCL), the joint venture enterprise inked the deal with the state-owned power equipment maker.
At 11.39 am, share price of the company was trending 3.43 per cent up at Rs 143.05. The scrip opened at Rs 139 and has touched a high and low of Rs 146.85 and Rs 139, respectively in trade so far. Sensex was trading 37.34 points down at 27,770.80.
BHEL was selected under an open international tender for constructing the super thermal plant at Bangladesh’s southwestern Rampal near the Sundarbans.
India’s Exim Bank will provide $1.49 billion for the project, slated to begin power generation in 2019.
The deal came amid concerns by environmental groups that the the plant could affect the delicate ecosystem of the world’s largest mangrove forest, spreading over both Bangladesh and India.
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