BHEL Has Big Plans To Tap Growing Defense Sector (21-Feb-2010)
In order to tap the growing defense sector, Bharat Heavy Electricals (BHEL) and Finnmechanica is eyeing to supply more than 30 heavy duty 127-mm naval guns to the defence sector.
Here, each gun would cost around Rs. 130-150 crore, where BHEL will get an order worth Rs. 4,500 crore.
Apart from Navel Guns, BHEL is also eyeing for other defence orders too.
BHEL''s order book is worth Rs. 135,000 crores but most of it is from the power sector equipment supply but now BHEL wants to expand its order book from other sectors like - defence and oil and gas sector.
And with defence ministry''s mega modernisation plans, BHEL is making all the strategic moves to tie-up with international players.
On Friday, BHEL said that it would give a final shape to its much-awaited technology transfer agreement with the U.K. based - Sheffield Forge Masters next week to help it manufacture and upgrade castings and forgings. The agreement would enable BHEL to manufacture new and improved castings and forgings, which were the key components in power equipment, at its Haridwar unit.
Bhel is currently trading at Rs.2364.2, up by 0.43%.
The stock hit an intraday high of Rs.2391 till now, as against the 52-week high of Rs.2550.The stock hit a low of Rs.2364.1 during the day. The stock had hit a 52-week low of Rs.1251 on March 6, 2009.
The stock opens at Rs.2375 at BSE. The total traded volume of the scrip on BSE till now stood at 5725.
Meanwhile today, the BSE Sensex is trading up by 183.28 points, or 1.13% , at 16374.91 on 10:09 AM.
Meanwhile today, the NSE Nifty is trading up by 55.35 points, or 1.14% , at 4900.25.
BHEL has an equity capital of Rs 489.52 crore as of 2009 Dec. The face value per share is Rs 10. At the current price of Rs 2364.2, the P/E multiple stood at 36.985040635188 with book Value of 264.32 and P/BV at 8.94.
The total shareholding pattern of the company as on Dec 2009 stood at Promoters- 67.72%, Institutional Investors- 26.26%, General Public- 1.69% and other investors- 4.34%.
Considering the current price of Rs. 2364.2 at 10:11:00 AM , the stock had outperformed the market over the past one month till 22/02/2010 surged -0.66% as compared to the Sensex''s return of -2.48% and NSE Nifty''s -2.48 % returns.
Considering the current price of Rs. 2364.2 at 10:11:00 AM , the stock had outperformed the market over the past one quarter till 22/02/2010 surged 4.78% as compared to the Sensex''s return of -4.86% and NSE Nifty''s -4.86 % returns.
Meanwhile, BHEL last week inked a memorandum of Understanding (MoU) in order to form a 50:50 joint venture company with Toshiba in order to manufacture equipment for power transmission and distribution in India and abroad.
BHEL CMD BP Rao told that all the formalities related to the joint venture would be completed by June this year.
Moreover, he added that for this joint venture, they may set up a new manufacturing plant.
As per the company statement, BHEL and Toshiba signed a MoU in order to form a joint venture company to address transmission and distribution business in India and other mutually agreed countries.
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