BHEL shares edge higher after issuing clarification regarding JV
9.5 basis points have corrected the stock in the last one month and has shown a gain of 6.32% as of May 12, 2025.
New Delhi: Shares of Public Sector Unit Bharat Heavy Electrical Limited (BHEL) surged by 6.3% to Rs 230.33, as the company highlighted a clarification regarding a Joint Venture signed between BHEL and RECPDCL.
According to the exchange filing made, a non-binding Memorandum of Understanding (MoU) was signed between BHEL and RECPDCL on 15.03.2024 with an intent to inter-alia work together in the area of development of renewable energy projects.
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DIPAM is currently approving the proposal. Post the same, the proposal will be resubmitted to BHEL Board for incorporation of the JVC and investment (with due diligence and feasibility report).
The Joint Venture Agreement will be signed after all necessary approvals are obtained and disclosure under regulation 30 of the SEBI (LODR) Regulations, 2015 in this regard shall be made suitably.
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9.5 basis points have corrected the stock in the last one month and has shown a gain of 6.32% as of May 12, 2025. Following two days of decline, this performance represents a trend reversal. The stock saw a noteworthy 3.23% gain at opening and a peak increase of 5.44% when it hit an intraday high of Rs 228.55.
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