Bharat Heavy Electricals Limited (BHEL) saw a significant surge, rising more than 14 percent to reach its highest level in over eight years, hitting Rs 269.35 on the National Stock Exchange (NSE) with high trading volumes on March 4 morning.
A remarkable 15 crore shares were traded on both BSE and NSE combined, far exceeding the average of 4 crore shares over the past month. This surge came following news that the board of NTPC, another government-owned company, approved a substantial investment of Rs 17,195.3 crore for the third phase of the Singrauli Super Thermal Power Project. BHEL was the sole bidder for the construction.
BHEL was trading at Rs 267.75 on NSE, marking a 13 percent increase from the previous close. The stock has shown remarkable growth, soaring over 250 percent in the past year, far outpacing the 26 percent rise in the Nifty index. In the last six months alone, the stock has surged by an impressive 93 percent.