BHEL Stocks Surge After Emerging Sole Bidder for NLC India Project

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Following L&T’s withdrawal, BHEL emerges as the sole bidder for NLC India’s ultra-supercritical thermal power plant project in Talabira, Odisha. NLC India chairman and managing director Prasanna Kumar Motupalli verified this information to the sources.

“L&T-MHI and BHEL were the first companies to enter the bidding procedure. Ultimately, though, only BHEL took part in the price bid.We are not aware of any particular justification for L&T’s withdrawal. We are now reviewing the bid submissions that BHEL has sent us. By the end of this month, we will place the project’s order,” Mutupalli declared.

The 3,200 MW Talabira ultra-supercritical thermal power plant project by NLC India is divided into two stages: Stage I consists of three 800 MW units, while Stage II consists of a single 800 MW unit. BHEL has surfaced as the sole bidder for Stage-I. According to Motupalli, the corporation will issue a new tender for Stage-II.

As part of routine business operations, BHEL said in a January 1 stock exchange filing that it had made a price proposal for the NLC order in question. “Submission of bid does not result into automatic bagging of an order, therefore, is not required to be informed under Regulation 30 of the SEBI Listing Regulations, 2015,” BHEL stated in its filing.

The price of BHEL shares saw a strong surge on Monday, rising by nearly 6% to hit a new 52-week high of ₹205 on the NSE. A media article after this increase disclosed that the state-owned engineering company had emerged victorious in the competition for a significant ₹19,422-crore turnkey contract. Under the terms of the deal, NLC India would build a thermal power plant in Talabira, Odisha.

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