BHEL spurts after order win

Bharat Heavy Electricals (BHEL) rose 5.71% to Rs 60.15 after the company won an order from Goa Shipyard for supplying upgraded super rapid gun mount (SRGM).

Sep 28, 2021 12:09 IST capital market

SRGM is the main gun used in most warships in Indian Navy. The order envisages supply, installation and commissioning of the entire system - upgraded SRGM and accessories for Triput Class Frigates of the Indian Navy, which will be manufactured by the Haridwar unit of BHEL.

On a consolidated basis, BHEL reported net loss of Rs 448.20 crore in Q1 FY22, lower than net loss of Rs 893.14 crore in Q1 FY21. Net sales rose 43.6% to Rs 2,723.82 crore in Q1 FY22 over Q1 FY21.

State-run BHEL is engaged in design, engineering, construction, testing, commissioning and servicing of a wide range of products and services to the core sectors of economy. As of 30 June 2021, the Government of India held 63.17% stake in the company.

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