New Delhi. What is written in the headline is absolutely correct. This government company is one of the Navratna companies of India. Bullet train has not started in India yet, but this stock is moving faster than a bullet. This stock has given multibagger returns in the last one year. It has increased the money of investors as if it is a currency printing machine. Recently this company has got a big contract. After this, it is understood that now its stock can run at a much faster pace.
The Navratna company we are talking about is BHEL. Shares of Bharat Heavy Electricals Limited are on the rise because this public sector unit (PSU) has received a contract from Damodar Valley Corporation (DVC) to set up 2×800 MW Koderma Phase-II thermal power station in Koderma (Jharkhand). This contract is worth Rs 10,000 crore.
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On Monday (29 July 2024), BHEL share price closed 1.86% higher at Rs 323.15 on BSE. The stock touched a 52-week low of Rs 94.80 on 7 August 2023 and a 52-week high of Rs 335.40 on 9 July 2024. The stock of this PSU company has gained 213% in the last one year and has jumped 60% in 2024.
What is the situation in technical analysis?
Information has been given in a report of India Today on the basis of its technical analysis. It has been written that BHEL’s stock is neither in the overbought zone nor oversold. Its Relative Strength Index (RSI) is at 55.3. This stock is trading above its 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages. BHEL’s beta is 1.6, which indicates very high volatility. The company’s market cap has reached Rs 1.10 lakh crore.
BHEL has received LoI (Letter of Intent) from DVC to set up Koderma Phase-II Thermal Power Station on EPC (engineering, procurement, and construction) basis. The project involves supply of boilers, turbines, generators and related auxiliary equipment along with electrical and control and instrumentation (C&I) systems and plant packages. BHEL will also be responsible for construction, commissioning and civil works of this power station. The project is to be completed within 52 months and its total value is said to be more than Rs 10,000 crore. This value is exclusive of taxes and charges.
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first published : July 30, 2024, 12:32 IST
