Bhel shares soar 17%; top gainer on Sensex, Nifty

Tags: News
Shares of power equipment maker Bhel today shot up by 17 per cent after the company signed an initial agreement to set up a 200 MW plant in Indonesia.

The state-owned firm's stock surged 16.94 per cent to settle at Rs 268.25 on the BSE after climbing as much as 18.98 per cent to Rs 272.95, a 52-week high.

On the National Stock Exchange, the shares advanced 14.42 per cent to close at Rs 265.

The stock was the top gainer on both the Sensex and Nifty indices.

The company signed an MoU with PT Star Vyobros for setting up a 200 MW coal-fired power plant in the Sulawesi region of Indonesia, Bhel said in a statement. Financial details were not divulged by the company.

Shares of other power sector companies gained amid continued optimism over the incoming Narendra Modi-led government.

Coal India climbed 12.73 per cent, NTPC surged 10.35 per cent, Tata Power Co (7.95 per cent) and Adani Power (7.64 per cent). The BSE power index rose 10.15 per cent to 2,148.24.

The benchmark Sensex gained 241.31 points to 24,363.05, a record close.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

EDITORIAL OF THE DAY

  • The govt needs to spend its cash without being frugal or wasteful

    Increased government spending can provide a temporary stimulus to demand and output. This is Economics 101.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Roopen Roy

Livability as a competitive advantage

Some CEOs and policymakers argue forcefully that distance is of ...

Rajgopal Nidamboor

The submarine element of your mind

We are all aware of the power of our will ...

Gautam Gupta

Retailers have it tough, thanks to e-commerce

For the past few months our focus has been on ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture