BHEL exits Udangudi Power Corp joint venture

Bharat Heavy Electricals Ltd (BHEL) on Thursday said it has exited Udangudi Power Corp. by selling its entire stake to joint venture partner Tamil Nadu Generation and Distribution Corp. (Tangedco). However, financial details were not disclosed. The 1,600 megawatts (MW) Udangudi power plant is expected to cost around Rs.9,083 crore, according to Tangedco website. In a filing to the BSE, BHEL said the exit from the joint venture was after request from Tangedco to undertake the Udangudi project as a state government initiative. The joint venture was to develop the Udangudi power project. It was set up as a joint venture between power equipment major BHEL and Tamil Nadu Electricity Board in November 2008. Following its restructuring in 2010, Tamil Nadu Electricity Board’s stake in the joint venture was transferred to Tangedco. ref: http://www.livemint.com/Companies/z4IMRerBhQBcrOIG0LUtKI/BHEL-exits-Udangudi-Power-Corp-joint-venture.html

In U-turn, BHEL to use cheaper Chinese gear

State-run Bhel, which earlier opposed large-scale imports from China by Indian power producers, has done a 180 degree about-turn and has decided to use Chinese gear and parts in its manufacture to cut costs and draw in cost-conscious customers. The company will source machinery for generators and boilers, and spares and parts in a big way from China for some of its clients who want to keep their projects costs low. “We are in the process of enlisting credible vendors from China and will leverage our own technical strength, knowledge and reach to provide cost-effective solutions to some of our clients,” said a top Bhel official on condition of anonymity. Ref: http://www.mydigitalfc.com/news/u-turn-bhel-use-cheaper-chinese-gear-036

Parliamentary panel asks Bhel to ensure timely delivery of equipment

Noting that there have been complaints of delay in supply of equipment by Bhel, a Parliamentary panel has recommended that the state-run company should make efforts to ensure timely delivery to its clients. "The committee is also cognisant that Bhel's order books are impressive, however, there have been persistent complaints about delay in supply of equipment and in commissioning the projects, thereby causing significant financial losses to the client companies," the panel observed in its report. The Parliamentary Standing Committee on Industry has suggested that Bhel's board and its parent ministry -- Heavy Industries -- should take steps to ensure delivery of contract on time. "The Ministry (Heavy Industries and Public Enterprises) and the board of the company must ensure that the expansion plan of the company must include the measures of timely delivery of contracts and equipment to the clients," the report tabled in Parliament said. The 31-member panel, headed by Rajya Sabha MP Tiruchi Siva, noted that Bhel features right at the top of the priorities of Department of Heavy Industry and has every potential to become an established global player in its field. The panel had suggested that the public sector entity should take measures to prevent shortfall in its performance. ref: http://www.mydigitalfc.com/news/parliamentary-panel-asks-bhel-ensure-timely-delivery-equipment-933

BHEL touches 52-week low on Citi sell report, down 4.5%

Bharat Heavy Electricals (BHEL) dropped more than 4.6 percent intraday to touch a new 52-week low of Rs 187.10 on Tuesday. The research house Citigroup has recommended a sell rating on the stock with a target price of Rs 183 as company's working capital has historically been at precarious levels. Citi has cut BHEL's valuation target on a worsening business outlook. Shares witnessed fall in six out of seven sessions since last week, losing nearly 10 percent during that period. At 14:18 hours IST, the stock lost 4.41 percent to Rs 187.55 amid large volumes on Bombay Stock Exchange. Trading volumes more than doubled to 7.3 lakh equity lakh shares compared to its five-day ref: http://www.moneycontrol.com/news/business/bhel-touches-52-week-lowciti-sell-report-down-45_840300.html

Bharat Heavy Electricals Limited : Mr. P.K. Bajpai, Director (Finance), BHEL, receives CNBC TV18 Best CFO Award 2013

Mr. P.K. Bajpai, Director (Finance),BHEL, receiving CNBC TV18 Best CFO Award 2013 from the Hon'ble Union Minister of State (Independent Charge) for Corporate Affairs, Mr. Sachin Pilot. ref: http://www.4-traders.com/BHARAT-HEAVY-ELECTRICALS-9743934/news/Bharat-Heavy-Electricals-Limited-Mr-P-K-Bajpai-Director-Finance-BHEL-receives-CNBC-TV18-Bes-16555574/

BHEL turnover rose steadily since 2009-10: Government

The turnover and profits of Bharat Heavy Electricals LtdBSE 0.89 % (BHEL), the state-owned firm which has been recently granted Maharatna status, have steadily risen since 2009-10, Parliament was informed today. The turnover of BHELBSE 0.89 % stood at Rs 30,290 crore up to the third quarter of the 2012-13 fiscal, as against Rs 49,510 crore in the year-ago period. The company had clocked a turnover of Rs 43,337 crore in 2010-11 and Rs 34,154 crore in 2009-10 respectively, Minister of Heavy Industries and Public Enterprises Praful Patel said in a written reply in the Lok Sabha. Besides, BHEL's profit came in at Rs 3,377 crore up to the third quarter of the current fiscal, as against Rs 7,040 crore in the previous year. The company had reported a profit of Rs 6,011 crore in 2010-11 and Rs 4,311 crore in 2009-10. ref: http://economictimes.indiatimes.com/news/news-by-industry/indl-goods/svs/engineering/bhel-turnover-rose-steadily-since-2009-10-government/articleshow/18971483.cms

BHEL, Trichy sanctions Rs. 55 lakh to give incinerators to institutions

BHEL has, under its Corporate Social Responsibility initiative, sanctioned Rs.55 lakh to Bharathidasan University for providing incinerators to 150 institutions in eight jurisdictional districts under the auspices of Women Involved in Sanitation and Hygiene (WISH) Forum. Promoting sanitation and menstrual hygiene management, the forum will implement the project over a three-year period, Vice Chancellor and chairperson of WISH forum K. Meena said. The university had created awareness among students of schools and colleges of menstrual hygiene management in the last two months. As adolescent girls in rural schools are given free sanitary napkins under a government scheme, the incinerators are necessary for disposing them safely without affecting the environment, the Vice Chancellor said. Registrar S. Aruchamy and Deputy General Manager – Administration, BHEL, K. Murali, exchanged the MoU documents on Monday in the presence of M.S. Ashraf, senate member; Jembaga Ramakrishnan, member, WISH Executive Committee; and V. Ganapathy, WISH co-ordinator. R. Palanivel, General Manager – Human Resource, BHEL, said the agreement was first of its kind and similar projects with educational institutions, which will have a direct societal impact, will be taken up. ref: http://www.thehindu.com/news/cities/Tiruchirapalli/bhel-sanctions-rs-55-lakh-to-give-incinerators-to-institutions/article4504533.ece

Celebrations at BHEL with many events on International Womens' day

Women in Public Sector, WIPS BHEL, Bhopal on the occasion of International Women’s Day organised a magnificent programme on Friday at IFX Hall BHEL, Bhopal. SS Gupta, Executive Director BHEL, Bhopal was present as the Chief Guest whereas Shashi Ranjan Prasad, Executive Director (OSD) BHEL, Bhopal graced the occasion as the Guest of Honour. Girish Shrivastava, GM (HR) BHEL, Bhopal presided over the function. Sumana Chatterjee, Regional Labour Commissioner and Professor Usha Krishnan were invited as the Guest Speaker. Usha Rani Gupta, President, BHEL Ladies Club, Nilima Prasad, Sarla Menon and other officials of WIPS also graced the programme. ref: http://www.dailypioneer.com/state-editions/bhopal/132210-celebrations-at-bhel-with-many-events.html

Hydro product committee meeting held at BHEL

S S Gupta, Executive Director, BHEL Bhopal the other day inaugurated the 59 thHydro Product Committee Meeting. Gupta speaking on this occasion highlighted the achievements of Hydro Group in Bhutan. He stressed on booking of more orders from domestic market and O and M spares order to maintain growth and profitability of Hydro Product. He also emphasized on timely delivery and improvement in quality documents in orders to retain customer loyalty. K Purswani, GM (Hydro) and Chairman, Hydro Product Committee, emphasized the need of timely and sequential supplies to retain the customers. He enlightened the gathering about the expectations of the customers in the current market scenario. ref: http://timesofindia.indiatimes.com/city/bhopal/Hydro-product-committee-meeting-held-at-BHEL/articleshow/18735275.cms