Adani Power Bhel Deal:When a company gets a big job in the stock market, it has a direct impact on its stock. On Wednesday, November 4, that’s exactly what happened to state-owned Bharat Heavy Electricals Limited, or BHEL. As soon as the market opened, BHEL shares started buying heavily. In no time this stock started flying like a rocket. At one point during the trading, the shares of this state-owned company rose by 6 percent.
Around 2:50 pm, BHEL shares rose 6.18 percent to Rs. was trading at 424.20. The reason behind this sudden surge in the market is the huge contract received from Adani Power. BHEL informed the stock exchange about this new deal on Wednesday itself. The company received from Adani Power Rs. 20,000 crore to Rs. Orders up to Rs 28,000 crore have been received.
What will BHEL do for the four major projects?
In this deal with Adani Power, BHEL has to work for four different projects. Each of these projects will have a capacity of 2×800 MW. Under this contract, the government company has to supply boilers, turbines, generators and other related auxiliary equipment. This work is not only limited to providing machinery, but BHEL also has to provide fixed services for these projects. With such a big deal, investors’ confidence in the company has suddenly increased.
The order book of the company is Rs. 2.5 lakh crore has crossed
BHEL’s position in terms of new deals looks very strong. As of September 30, 2026, the company’s total order book stands at Rs. 2,57,571 crore was crossed. If we look at the first half of the current financial year 2026-27, the company will generate around Rs. 30,000 crore worth of new work has been won. However, there has been some fluctuation in the pace of receipt of new orders on a quarterly basis.
In the first quarter of this financial year i.e. in June, the company had Rs. Huge orders worth 26,700 crores were received. But in the second quarter i.e. in September, this figure came down to around Rs 4,000 crore. If we compare with last financial year (FY26) figures, in the first quarter (Q1FY26) the company posted Rs. 10,500 crore orders were received. In the second quarter (Q2FY26), Rs. 21,900 crore was received, while in the March quarter the figure was Rs. 30,000 crores.
Excellent performance on the earnings front in the September quarter
Although new orders were low in the September quarter, BHEL has won in terms of earnings. The second quarter saw a strong jump in operating profit as well as an increase in the company’s operating income. Year-on-year revenue of the company increased by 23.81 percent to Rs. 9,300 crores. In the same quarter of last financial year, the company’s revenue was Rs. 7,511.8 crores.
On the operating profit i.e. EBITDA front, the company has done wonders. BHEL’s EBITDA rose 76.4 percent in the September quarter to Rs. 1,025.8 crores. In the same quarter exactly a year ago, this figure was just Rs. 581.46 crores. These strong quarterly results have greatly strengthened the company’s credibility in the market.
Silver of investors, brokerage firms also raised their estimates
Bhel’s stock has not disappointed its investors. This government share has increased by 58 percent in the last one year. At the same time, if we talk about this year alone, it has increased by more than 45 percent. Brokerage firm IIFL Institutional Equities also expressed its confidence in view of the company’s better-than-expected September quarter results.
