BHEL share price : The Government of India, promoter of Bharat Heavy Electricals (BHEL), has proposed to sell 10.44 crore equity shares (which is 3 per cent of the paid-up equity) in the company on February 11-12. There is also an option to sell up to 6.96 crore shares (which is 2 percent of the paid-up equity under the oversubscription option) through Offer for Sale. The floor price for this offer has been fixed at Rs 254 per share. BHEL’s OFFER FOR SALE for non-retail is open today. On the other hand, the company has also signed an agreement with Bharat Coal Gasification & Chemicals for an order worth Rs 2,800 crore.
The company has received a Letter of Acceptance from Bharat Coal Gasification & Chemicals for a Syngas Purification Plant (LSTK-2 package) for BCGCL’s coal-to-2,000 TPD ammonium nitrate project at Lakhanpur, Odisha. It is a joint venture between BHEL and Coal India. The value of the order is Rs 2,800 crore.
There is visible pressure on the stock
Amidst these news, Bharat Heavy Electricals is under pressure. Currently this share is trading around Rs 260.90 with a decline of Rs 15.15 or 5.49 percent. It has touched an intraday high of Rs 263.30 and an intraday low of Rs 259.30. The stock is trading with a volume of 478,435 shares. Whereas its five-day average trending volume is 366,739 shares, that is, today the trading volume of this stock is 30.46 percent more than its five-day average trending volume.
This stock has declined by 4.38 percent in 1 week. At the same time, it has given 4.83 percent negative return in 1 month. This stock has fallen 8.61 percent in 3 months. At the same time, it has shown a growth of 30.74% in 1 year. Whereas, it has given 246.35 percent return in 3 years.