In early trading on October 6, BHEL’s share price saw a gain of over 1 percent following the company’s announcement of winning two arbitration awards against Jaiprakash Power Ventures Limited.
BHEL revealed that it had achieved favorable outcomes in two separate arbitration proceedings it had initiated against Jaiprakash Power Ventures. The arbitral tribunal has awarded substantial claims to BHEL in both cases.
The first arbitration pertained to an ESP (Electrostatic Precipitator) contract for the ‘2 x 660 MW Jaypee Nigrie Super Thermal Power Project,’ while the second was related to a BTG (Boiler-Turbine-Generator) contract for the ‘2 x 250 MW Bina Thermal Power Plant.’
As of 10:22 am, BHEL’s stock was trading at Rs 129.40.63 on the NSE, marking a 1.6 percent increase from the previous day’s closing price.
Shareholders have witnessed significant gains in BHEL’s stock over the past year, with the company’s value surging by 106.6 percent, effectively doubling investors’ wealth. The majority of these gains have been realized in the last six months, during which the stock has soared by 81.59 percent.
The stock’s Relative Strength Index (RSI) currently stands at 54.4, indicating that it is neither overbought nor oversold. BHEL exhibits high volatility, as evidenced by its one-year beta of 1.29. Additionally, the stock is trading above all of its key moving averages.
Promoters maintain a 63.2 percent stake in the company based on June’s shareholding data, while Foreign Institutional Investors (FIIs) hold 7.8 percent, slightly down from their previous 8.58 percent holdings. Domestic Institutional Investors (DIIs) account for 16.4 percent of ownership, including a 4.6 percent stake held by mutual funds. The public holds a 12.7 percent stake in BHEL.
