BHEL Share Price Target, PSU Stock Under Rs 250: BUY after Rs 4000 cr order win from Adani Power?

bhel share price target, psu stock under rs 250: buy after rs 4000 cr order win from adani power?

BHEL Share Price Target, PSU Stock Under Rs 250: Bharat Heavy Electricals Limited’s (BHEL) shares gained up to 4 per cent in Thursday’s session as the PSU company bagged an order worth Rs 4,000 crore from Adani Power to set up the 2×800 MW Raigarh Phase-II Thermal Power Plant at Raigarh in Chhattisgarh.

As per the order, the company will be supplying equipment like Boiler, Turbine, Generator and supervise the erection and commissioning for the 2×800 MW power project based on supercritical technology.

The boiler and turbine generator will be manufactured at BHEL’s plants at Trichy and Haridwar respectively, the Maharatna PSU informed the bourses.

The supply of the first unit is to be completed within 31 months of contract execution and the second unit will have to be delivered within 35 months.

BHEL, earlier this month, secured a contract from NTPC to construct the Singrauli Super Thermal Power Project, Stage-III (2×800 MW) in Uttar Pradesh’s Sonebhadra district. The order, valued at Rs 9,500 crore excluding GST, was awarded to BHEL, which was the sole bidder for the project.

BHEL Share Price Target

A market expert and an ET NOW Swadesh panellist has recommended buying BHEL’s shares for short term gains.

The market expert said that BHEL recently crossed over its key moving averages and is sustaining those. He set the target around Rs 260. The stop loss, he advised, should be at Rs 238.

BHEL Share Price History

BHEL is a constituent of S&P BSE 200 and commands a market cap of Rs 85,972.14 crore, as of the current market price.

Its shares, according to BSE Analytics, have gained 4.24 per cent in the last week, and 10 per cent in the last month. On an year-to-date basis, the PSU stock yielded return of 24.60 per cent. Over three months and six months period, the Maharatna company gained 28.32 per cent and 94.91 per cent, respectively.

Over one year, the stock gave multibagger returns of over 252 per cent. Looking back further, in three, the counter yielded a massive return of 407.5 per cent, per BSE analytics.

BHEL Dividend History

Earlier in August 2023, BHEL paid Rs 0.40 as dividend on each stock to its shareholders. In 2022, the company had paid a dividend of Rs 0.40 per equity share. Back in 2019 and 2018, the company had distributed dividend twice in each year, aggregating to Rs 2 and Rs 1.82, respectively.