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Bharat Heavy Electricals (BHEL) has signed a technology collaboration agreement (TCA) for excitation system for synchronous machines with Korea-based E2S Company.
This TCA would help BHEL to design, engineer, manufacture, install, commission, service, test, retrofit and sale of both static & brushless excitation systems in India and in overseas territories. The TCA would also enable BHEL to maintain its competitive edge and strengthen BHEL's capabilities to cater excitation system business for synchronous machines and contribute to the Government's ‘Make in India' initiative.
Under said TCA, the company will design, engineer, manufacture, install, commission, service, test and retrofit both static and brushless excitation systems for domestic as well as international markets. The TCA would also enable the company to maintain its competitive edge and strengthen capabilities to cater excitation system business for synchronous machines and contribute to the Government’s ‘Make in India’ initiative.
The financial terms and other commercial details of the agreement have not been disclosed.
Bharat Heavy Electricals (BHEL) is an integrated power plant equipment manufacturer, engaged in the design, engineering, manufacturing, erection, testing, commissioning, and servicing of a diverse range of products and systems. The company caters to key sectors of the Indian economy, including power, transmission, industry, transportation, renewable energy, oil & gas, and defence. BHEL is the flagship engineering and manufacturing enterprise of India and is owned and operated by the Government of India.
The company's consolidated net profit surged 189.82% to Rs 390.40 crore while revenue from operations rose 16.43% to Rs 8,473.10 crore in Q3 December 2025 over Q3 December 2024.
Bharat Heavy Electricals Ltd is up for a third straight session today. The stock is quoting at Rs 279.3, up 5.12% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.79% on the day, quoting at 23807.15. The Sensex is at 76773.35, down 1.02%. Bharat Heavy Electricals Ltd has gained around 7.98% in last one month.
Meanwhile, Nifty Energy index of which Bharat Heavy Electricals Ltd is a constituent, has gained around 2.06% in last one month and is currently quoting at 36469.2, up 0.85% on the day. The volume in the stock stood at 198.11 lakh shares today, compared to the daily average of 103.49 lakh shares in last one month.
The benchmark April futures contract for the stock is quoting at Rs 280.17, up 4.84% on the day. Bharat Heavy Electricals Ltd is up 31.15% in last one year as compared to a 4.29% jump in NIFTY and a 13.48% jump in the Nifty Energy index.
The PE of the stock is 115.57 based on TTM earnings ending December 25.
The project is scheduled to be commissioned within 39 months from the effective date of the contract.
The order is considered significant for the industry and is valued in the range of Rs 1,200 crore to Rs 1,500 crore.
BHEL clarified that none of its promoters or promoter group entities have any interest in the awarding authority. The company also stated that the transaction does not fall under related-party transactions as per applicable regulatory norms.
Steel Authority of India (SAIL) is the leading steel-making company in India. The company is a fully integrated iron and steel maker, producing both basic and special steels for domestic construction, engineering, power, railway, automotive, and defense industries, as well as for export markets.
Shares of Bharat Heavy Electricals (BHEL) rose 0.48% to Rs 264.05, while Steel Authority of India advanced 1.87% to Rs 160.30 on the BSE.
The Government of India, the company’s promoter, is offering a base lot of 10.44 crore shares, representing 3.00% of the company’s equity. The offer includes an oversubscription option for an additional 6.96 crore shares or 0.79% stake, taking the total potential divestment to 17.4 crore shares, or 5.00% stake.
The floor price has been set at Rs 254 per share, a discount of 7.99% to the stock’s previous close of Rs 276.05 on January 27, 2026.
The OFS opened on February 11 for non-retail investors. Retail investors can participate on February 12, along with non-retail bidders carrying forward unallotted bids. The offer is being conducted through a special window on the BSE and NSE during market hours.
By 2:00 p.m. on T Day, the non-retail portion was subscribed 12.99% of the base offer size. Bids were received for 1.22 crore shares against 9.40 crore shares on base non-retail offer.
As of December 2025, the Government of India held a 63.17% stake in Bharat Heavy Electricals.
In the cash market, the Nifty 50 index advanced 18.70 points or 0.07% to 25,953.85.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 1% to 11.56.
State Bank of India(SBI), Bharat Heavy Electrical (BHEL) and HDFC Bank were the top-traded individual stock futures contracts in the F&O segment of the NSE.
The February 2026 F&O contracts will expire on 24 February 2026.
The order, awarded through a domestic tender, is valued at approximately Rs 1,200-1,500 crore. Commissioning of the BTG package is scheduled within 35 months for Unit 1 and 37 months for Unit 2 from the effective date of the contract.