Bharat Heavy Electricals Limited (BHEL) witnessed a notable surge of over 13 percent on Monday, marking a significant milestone by reaching a 52-week high of Rs 269.35 per share.
As of 12:26 pm, BHEL's shares showed a robust increase of 12.97 percent, trading at Rs 266.90 each. Notably, the company's shares have demonstrated a consistent upward trend, registering a remarkable uptick of over 17 percent in the last five trading sessions and nearly 13.5 percent over the past month.
Over the year-to-date (YTD) period, BHEL's shares have experienced a notable appreciation of 34.5 percent, while over the past six months, they have surged impressively by over 92 percent.
Various factors contribute to the ongoing surge in BHEL's share price, one of which is NTPC's recent approval for an investment exceeding Rs 17,195 crore towards the third phase of the Singrauli Super Thermal Power Project. BHEL stood as the sole bidder for the construction of the Singrauli plant, enhancing investor confidence in the company's prospects.
Furthermore, BHEL's shares have received a boost this year following its announcement that NLC India had awarded it the Talabira Thermal Power project, valued at Rs 15,000 crore.
Presently, among the 19 analysts monitoring the stock, five advocate a 'buy' rating, while three recommend 'hold.' However, the majority maintain a 'sell' rating on the stock, indicating a divergence in market sentiment regarding BHEL's future performance.
