Maharatna PSU secures Rs 7,500-crore deal; JM Financial target suggests 69% upside in stock
Maharatna Company: Bharat Heavy Electricals Limited (BHEL), an Indian engineering company, has secured a massive order worth Rs 7,500 crore. This development has led to a rise in its stock price. JM Financial suggests a target of 69 per cent upside for this stock.
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Maharatna company BHEL announced that it has received a huge order worth Rs 7,500 crore, as disclosed to the stock market. The company bagged this order from Gujarat State Electricity Corporation Limited i.e. GSECL. At Rs 358 apiece, JM Financial's target price means an upside of 69 per cent in the PSU stock from the previous close.
BHEL order details
According to the information available on the BSE website, BHEL (Bharat Heavy Electricals Limited) has received an EPC i.e. Engineering, Procurement, and Construction order for a 1x800 MW power project for Ukai Extension Unit-7 located in the Tapi district of Gujarat. According to the contract, the company will provide boilers, turbines, generators, and other components. Plant commissioning and civil works are also included. The commercial operation of this plant will start within the next 54 months. The order value of this project is Rs 7,500 crore.
BHEL Share Price Target
BHEL's stock price reached Rs 335 in July 2024, its highest point so far this year. Thereafter, it fell by 48 per cent to Rs 176 on March 3, 2025. In the last 3 weeks, it has recovered about 20 per cent from its low level. Domestic brokerage firm JM Financial has advised buying the shares of this Maharatna company and has given a target of Rs 358. This target is about 73 per cent higher.
BHEL's growth outlook remains positive
BHEL is a giant engineering company that deals with thermal, hydro, nuclear, solar, transmission, and transportation segments in the power sector. It is not limited to that, it also deals with manufacturing Vande Bharat trains for railways. It works for many sectors, including Defense and Aerospace, and Oil and Gas. The brokerage said the government is aiming for 500 GW of energy capacity by 2030. As such, the company's outlook is strong.
(Disclaimer: Here investment advice in stocks is given by brokerage houses. These are not zee business considerations. Consult your advisor before investing).
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