BHEL Secures Arbitration Wins Against Jaiprakash Power, Shares Surge

6 Oct 2023 , 12:02 PM

BHEL’s share price rose by over 1% in early trade on October 6 following the announcement of two arbitration awards against Jaiprakash Power Ventures Limited. Bharat Heavy Electricals initiated separate arbitration proceedings against Jaiprakash Power Ventures, resulting in ‘substantial’ claims awarded to BHEL by the arbitral tribunal.

The arbitration cases were related to an ESP contract for the ‘2 x 660 MW Jaypee Nigrie Super Thermal Power Project’ and a BTG contract for the ‘2 x 250 MW Bina Thermal Power Plant.’ As of the current moment, BHEL’s trading price stands at Rs 128.50, reflecting a 0.86% increase from the previous day’s closing price.

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