Shares of Bharat Heavy Electricals (BHEL) were gaining in early trading on Monday after the company won a major contract from NTPC over the weekend.

What Happened: BHEL said on Saturday it has received a notification of award (NOA) for the 1×800-megawatt Sipat supercritical thermal power project.

The contract, valued at over ₹6,100 crore, excluding GST, involves comprehensive engineering, procurement and construction (EPC) work. This includes equipment supply, erection, commissioning and civil works, marking a major boost to BHEL’s project portfolio.

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The contract won through international competitive bidding includes equipment supply, erection and commissioning and civil works. The project is slated for completion within 48 months from the date of the award notification.

String Of Deals: This award comes on the heels of another major contract win in August, when BHEL signed deals worth over ₹11,000 crore with Adani Power and its subsidiary Mahan Energen for setting up three supercritical thermal power projects, each with a 2×800-megawatt rating, in Kawai, Rajasthan and Mahan, Madhya Pradesh.

Additionally, BHEL secured a 1,600-megawatt project from Damodar Valley Corporation (DVC) at the end of July. The coal-based unit, to be set up in Jharkhand’s Koderma district, will also be executed on an EPC basis.

Price Action: BHEL’s share price was up 1.5% at ₹270.15 near the start of trade on Monday, easing slightly from gains of over 2%. The stock is up over 36% so far this year.

NTPC’s share price was up 0.77% at ₹427.20. The public sector firm has gained over 37% so far this year.

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