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BHEL and Hitachi Energy India stocks surged after their consortium secured a contract from the Power Grid Corporation of India for establishing over 800 high voltage direct current (HVDC) terminal stations, facilitating renewable power evacuation from Gujarat to Maharashtra. Hitachi Energy is currently experiencing its highest backlog of ₹8,910 crore, ensuring strong revenue visibility for the next 24-26 months. As of 9:15 am, Hitachi Energy shares rose by 8.02% to ₹12,595.45, while BHEL shares increased by 1.23% to ₹244.19.
L&T is poised to secure contracts worth over Rs 40,000 crore from NTPC for three coal-fired power plants totaling 6.4 GW in Madhya Pradesh, Telangana, and Bihar. The company has emerged as the lowest bidder for two projects, while the second-lowest bidder will be offered the third project at the lowest bid price. An announcement regarding the orders is expected before the end of Q3 2024.
On Monday, October 28, over 170 companies, including major players like Bharti Airtel, Adani Power, and Indian Oil, are set to release their Q2 results. Investors will closely monitor key financial metrics for the September quarter from these prominent firms, alongside others such as Pfizer and Sun Pharma.
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