President of India’s portfolio gains Rs 19,79,68,53,618 in just 1 day from this multibagger stock; Company bags new order worth Rs 2,956.89 crore from Ministry of Defence

The stock gave multibagger returns of over 100 per cent in just 1 year and a whopping 400 per cent in 3 years.

Indian stock markets ended the trading sessions in green on November 29, 2023, with the BSE Sensex Index was up 1.1 per cent to 66,901.01 while the NSE Nifty-50 Index was up 1.04 per cent at 20,096.60. About 1,893 shares have advanced, 1,821 have declined and 127 were unchanged on BSE. The BSE Mid-Cap Index was up by 0.78 per cent and BSE Small-Cap Index was up by 0.40 per cent.

Along with this market in green, this PSU and multibagger engineering-industrial equipment stock surged 9 points or 5.76 per cent to Rs 165.15 per share from its previous closing of Rs 156.15. The stock also made a new 52-week high of Rs 166 per share with a spurt in volume by more than 1.36 times on BSE.

The PSU stock is none other than BHARAT HEAVY ELECTRICALS LTD (BHEL).

President of India’s portfolio owns 2,19,96,50,402 shares or 63.17 per cent stake in the company and each share has gained by 9 points. Therefore, President of India’s portfolio gains by 19,79,68,53,618 (Total 2,19,96,50,402 shares x Rs 9 per share). In the recent trading sessions, the stock has been hitting back-to-back 52-week highs and in just 1 week the stock is up by 17 per cent.

Bharat Heavy Electricals Limited manufactures various power plant equipment. The company has a market cap of Rs 57,500 and its order book stands at over Rs 1,50,000 crore as of September 30, 2023 after the prestigious Vande Bharat trainset order in April 2023.

The company has signed a contract with the Ministry of Defence (MoD) for 16 Super Rapid Gun Mounts (SRGM) along with associated equipment and accessories for the Indian Navy. The total order is worth Rs 2,956.89 crore.

The upgraded Super Rapid Gun Mounts (SRGMs) are being installed on both existing and newly constructed Indian Navy vessels. Mazagaon Dock Shipbuilders Ltd (MDL) in Mumbai and Garden Reach Shipbuilders & Engineers Ltd (GRSE) in Kolkata are playing key roles in the integration process. The SRGMs are a medium-calibre anti-missile/anti-aircraft point defence weapon system that provides a sustained rate of fire and high accuracy.

Additionally, BHEL and Electricité de France S.A., France (EDF), a French state-owned company and largest nuclear operator worldwide, have signed a Memorandum of Cooperation (MoC) to explore the opportunity to maximize the local content of the Jaitapur Nuclear Power Plant Project (6x1650 MWe) to be established by NPCIL in India. Further, BHEL and EDF will also explore larger collaboration for the European Pressurized Reactors (EPRs) and for the NUWARD SMR (Small Modular Reactor).

The company has reported a mixed set of numbers in its Quarterly Results and half-yearly results. The company has been maintaining a healthy dividend payout of 20.1 per cent. The stock gave multibagger returns of over 100 per cent in just 1 year and a whopping 400 per cent in 3 years.

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Disclaimer: The article is for informational purposes only and not investment advice.