BHEL trades near 52-week high: here is what's driving the PSU stock

BHEL share price NSE: Bharat Heavy Electricals Ltd (BHEL) shares gained on Tuesday, January 2, as the state-run company bagged a host of orders. The BHEL counter gained as much as 2.6 per cent to Rs 203.4 apiece in early deals on NSE.

BHEL new order: Bharat Heavy Electricals Ltd (BHEL) shares gained on Tuesday, January 2, as the state-run company bagged a host of orders. Image: Freepik/ Representational Image

BHEL share price NSE, BHEL new order latest: Bharat Heavy Electricals Ltd (BHEL) shares gained on Tuesday, January 2, as the state-run company bagged a host of orders. The BHEL counter gained as much as 2.6 per cent to Rs 203.4 apiece in early deals on NSE, coming within Re 1.3 of a 52-week high registered the previous day. The PSU major bagged an order from the Indian Navy, and a separate order to manufacture 80 Vande Bharat trains, Zee Business reported. BHEL shares closed Rs 3.8 or 1.92 per cent lower at Rs 201.95 on NSE.

In another development, Union Minister of Heavy Industries, Mahendra Nath Pandey inaugurated the newly constructed BHEL Sadan on the occasion of BHEL Day, in the presence Minister of State for Power and Heavy Industries, Krishna Pal Gurjar, the company informed the exchanges on Tuesday.

In his address, Mahendra Nath citing the clarion call of PM Narendra Modi for achieving the target of ‘Net Zero’ carbon emissions by 2070, said that this 18-storey eco-friendly green building constructed as per the latest technology and standards, is a symbol of BHEL's commitment towards environmental protection.

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BHEL share price history

BHEL's stock has given a positive return of over 150 per cent in the last 12 months (from January 3, 2023). In comparison, the headline index Nifty 50 has rallied nearly 19 per cent.

What does BHEL do?

Bharat Heavy Electricals Limited (BHEL) is a central public sector undertaking and among the largest government-owned power generation equipment manufacturer.

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