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Shares of state-run power equipment maker BHEL jumped as much 3.05 per cent on Thursday as the company has bagged an order worth ₹350 crore for setting up two 765 kV substations in West Bengal, claiming the order to be the largest for the company so far.
The order has been placed on BHEL by Powergrid Medinipur-Jeerat Transmission Ltd (PMJTL), a wholly-owned subsidiary of Power Grid Corp.
After opening flat at Rs 90, the stock touched an intraday high of Rs 92.75 and a low of Rs 89.90 on the BSE. In terms of equity volume, 10.81 lakh shares exchanged hands on the BSE. The shares closed higher by 2.22 per cent at Rs 92.
The company had posted a nearly 6 per cent rise in quarterly profit , but missed analysts' forecasts. Net profit came in at ₹1.15 billion ($17.73 million) in the quarter ended September 30, compared with a profit of ₹1.09 billion a year earlier.
Earlier last month, the company had said in a statement that it has paid a final equity dividend of 39 per cent for 2016-17. With this, the total dividend paid during the year stands at 79 per cent, including 40 per cent interim dividend paid earlier. The figure is four times the dividend paid in the previous year and highest in the last three years.
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