Rs 1,50,000 crore order book: This multibagger heavy electrical equipment company signs MoU with Government of India; scrip hit back-to-back 52-week high!

The stock gave multibagger returns of over 130 per cent in just 1 year and a whopping 425 per cent in 3 years.

India's leading heavy electrical equipment manufacturer, BHARAT HEAVY ELECTRICALS LTD (BHEL) has joined forces with Central Manufacturing Technology Institute (CMTI), a government research institute, to pioneer innovations in two key areas: harnessing hydrogen energy and using smart technology to predict and prevent equipment failures. This collaboration aims to boost India's self-reliance in clean energy and advanced manufacturing. Through shared expertise, BHEL will develop efficient hydrogen technologies, while CMTI's "Industrial Internet of Things" solutions will ensure smoother production processes and reduce downtime. This partnership is expected to accelerate India's progress towards a sustainable and technologically advanced future.

Additionally, BHEL has signed a contract with the Ministry of Defence (MoD) for 16 nos. SRGMs against the LOI received earlier in March 2023, 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.

Bharat Heavy Electricals Limited manufactures various power plant equipment. The company has a market cap of over Rs 65,000 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 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.

Today, shares of BHEL gained 3.7 per cent and made a new 52-week high of Rs 188.20 per share. At the closing bell, shares of the company were trading at Rs 187.40 per share, up 3.25 per share. In recent trading sessions, the stock has been hitting back-to-back 52-week highs. The stock gave multibagger returns of over 130 per cent in just 1 year and a whopping 425 per cent in 3 years.

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