Bharat Heavy Electricals is currently trading at Rs. 35.20, up by 0.05 points or 0.14% from its previous closing of Rs. 35.15 on the BSE.
The scrip opened at Rs. 35.55 and has touched a high and low of Rs. 35.75 and Rs. 35.20 respectively. So far 412913 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 61.30 on 30-Oct-2019 and a 52 week low of Rs. 19.20 on 25-Mar-2020.
Last one week high and low of the scrip stood at Rs. 37.40 and Rs. 35.00 respectively. The current market cap of the company is Rs. 12274.27 crore.
The promoters holding in the company stood at 63.17%, while Institutions and Non-Institutions held 23.23% and 13.60% respectively.
Bharat Heavy Electricals (BHEL) has entered into a Memorandum of Understanding (MoU) with SwissRapide AG to bring Maglev trains (magnetic levitation) to India. The company is aimed at expanding its footprint in the urban transportation sector as part of its diversification initiatives.
The MoU sets out the foundation to cooperate and explore mutually beneficial business opportunities, and to utilise both the companies' inherent capabilities, skills, knowledge and assets, with respect to the scope of Maglev Train projects in India. The Maglev Rail system hovers in the air instead of rolling, due to magnetic levitation, thus the vehicles have no physical contact with the guideway. This enables the system to be highly energy efficient, allows operating speeds of easily up to 500 km/h and significantly reduces the total cost of system ownership.
BHEL is India’s largest engineering and manufacturing company of its kind. It is a power plant equipment manufacturer and operates as an engineering and manufacturing company.