BHEL announced extension of Technology Collaboration Agreement with Vogt Power
BHEL stated that the renewed collaboration will enable the company to stay abreast of global technological advancements in HRSG design while maintaining its competitive edge in the power equipment sector, it added.
State-run Bharat Heavy Electricals Ltd (BHEL) share prices are in focus after the company announced the extension of its Technology Collaboration Agreement (TCA) with Vogt Power International Inc., USA (VPI) for Heat Recovery Steam Generators (HRSGs).
In the regulatory filing, the company stated that Bharat Heavy Electricals Limited (BHEL) has extended its Technology Collaboration Agreement (TCA) with M/s Vogt Power International Inc., USA (VPI) for Heat Recovery Steam Generators.
BHEL stated that the renewed collaboration will enable the company to stay abreast of global technological advancements in HRSG design while maintaining its competitive edge in the power equipment sector, it added.
The company affirms its efforts to support the Government’s ‘Make in India’ initiative and bolster its capabilities in combined cycle and cogeneration plant segments.
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The financial details of the agreement are confidential, the company emphasized that the partnership would help it enhance its offerings in both domestic and international markets by leveraging VPI’s expertise.
The stock has witnessed a 10.69% decline over the last 1-year period, an 8.45% drop year-to-date (YTD), and a 24.30% decrease over the past 6 months.
The stock fell by 10.76% in over three months whereas in the last 1 month, it showed a positive gain of 9.71%.
Shares of BHEL are trading low by 1.53 percent at Rs 210.34.
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