BHEL falls as Rajasthan government re-invites bids for Rs 12,000 crore tender

Shares in power equipment manufacturer Bharat Heavy Electricals (BHEL) underperformed the broader markets on the back of increased competition in the capital goods space. As many as four companies would be bidding with BHEL for the Rs 12,000 crore Engineering, Procurement and Construction (EPC) tender re-invited by the Rajasthan government. The tender for two separate thermal power projects in Rajasthan was bagged by BHEL more than a year ago, but was later scrapped. When the tenders were floated in November 2009 and opened in April 2010, there were three bidders -- BHEL, BGR and Russia's Power Machines. L&T, Gammon & Thermax, BHEL and BGR Energy are expected to participate in the re-bidding. more at: http://profit.ndtv.com/News/Article/bhel-falls-as-rajasthan-government-re-invites-bids-for-rs-12-000-crore-tender-306415