Business · India Bureau
BHEL surges on major contract win from Adani Power
Shares of Bharat Heavy Electricals Limited rallied 6 per cent following the company's securing of a substantial project from Adani Power. The engineering major's order book has swelled to ₹2.58 trillion as of late September.
LSN India ·
Bharat Heavy Electricals Limited (BHEL) saw its stock price climb 6 per cent on the back of winning a significant contract from Adani Power, signalling investor confidence in the state-owned manufacturer's prospects. The project win underscores BHEL's continued relevance in India's energy infrastructure sector, even as competition intensifies among power equipment suppliers. The contract is expected to provide steady revenue visibility for the company over the coming financial years. As of September 30, 2026, BHEL's outstanding order book stood at ₹2.58 trillion, reflecting a robust pipeline of work across its thermal, hydro, and renewable energy businesses. This substantial backlog positions the company well to maintain operational momentum and revenue growth. Market analysts have turned optimistic on BHEL's prospects. ICICI Securities has set a target price of over ₹600 per share, suggesting upside potential from current levels. Brokerages have cited the company's strong order inflows and improving execution as key drivers for near-term performance.