Friday, June 30, 2017

BHEL partners Kawasaki to manufacture coaches for metros

Expanding its exposure to the growing urban transportation sector, state-owned Bharat Heavy Electricals Ltd (BHEL), has entered into a technology collaboration agreement with Kawasaki Heavy Industries, Ltd. (KHI), Japan for the manufacture of stainless steel coaches for metros. The Technology Collaboration Agreement was signed by Amitabh Mathur, Director (IS&P), BHEL and Makoto Ogawara, Senior Vice President, KHI and covers establishing a state-of-the-art design, engineering and manufacturing facilities at BHEL, India using Japanese technology, a company statement said. The pact will also entitle BHEL for all technology advances and upgrades. BHEL has been supplying the Indian Railways both electric and diesel locomotives, EMUs, and propulsion system sets and drives for the same. Kolkata Metro, the first metro project in India, is equipped with BHEL made propulsion system. KHI is a manufacturer of heavy equipment and its rolling stock company has supplied EMU trainsets to various countries like the US, Singapore, Taiwan and Hong Kong, alongside Japan, the statement said. KHI, is also the manufacturer and supplier of the Shinkansen High Speed Bullet Trains, proposed to be introduced in India on the Mumbai-Ahmedabad High Speed Rail Corridor. The pact will enable BHEL to produce stainless steel coaches indigenously, it added. ref; http://indianexpress.com/article/business/companies/bhel-partners-kawasaki-to-manufacture-coaches-for-metros-4728471/

Tuesday, June 27, 2017

BHEL bags 15 MW solar photovoltaic plant order in Gujarat

Bharat Heavy Electricals LtdBSE 0.60 % (BHELBSE 0.60 %) has secured an order for setting up a 15 MW solar photovoltaic power plant on EPC basis in Gujarat. Gujarat Alkalies and Chemical Limited placed the order for setting up plant at Gujarat Solar Park in Charanka, the power equipment maker said in a statement. This will be BHEL's first ground-mounted Solar PV project in Gujarat. The company is presently executing over 180 MW of ground-mounted and rooftop Solar PV projects across the country, it said. BHEL has been contributing to the national initiatives for developing and promoting renewable energy-based products on a sustained basis since the past three decades, the company said. It has enhanced its state-of-the-art manufacturing lines of solar cells to 105 MW and solar modules to 226 MW per annum. In addition, space-grade solar panels using high efficiency cells and space-grade battery panels are manufactured at its Electronic Systems Division, Bengaluru. It is one of the few companies in India whose solar business is backed by a dedicated R&D team. ref: http://economictimes.indiatimes.com/industry/energy/power/bhel-bags-15-mw-solar-photovoltaic-plant-order-in-gujarat/articleshow/59336277.cms

Friday, June 23, 2017

BHEL slips 3% as JP Morgan cuts target price, full year earnings estimates

BHEL shares declined more than 3 percent intraday Friday after JP Morgan slashed 12-month target price to Rs 128 (from Rs 128 earlier) despite stock's underperformance to Sensex. The research house cut its earnings estimates for FY18 / FY19 to 6 percent / 10 percent as it feels the replacement of old thermal plants is not as big a catalyst as it is made out to be. The state-run power equipment maker has underperformed Sensex by around 25 percent over the last three months. FY17 order inflows/backlog were down 46/5 percent and March quarter topline growth (negative 2.2 percent) disappointed. JP Morgan feels staff costs are likely to increase around 20 percent in FY18 following the wage settlement exercise, solar tariffs appear to have become more cost competitive relative to thermal, the capex opportunity by thermal plays for emissions reduction has seen pushback, and BHEL's diversification efforts have not produced very significant results over the last few years. more at: http://www.moneycontrol.com/news/business/stocks-business/bhel-slips-3-as-jp-morgan-cuts-target-price-full-year-earnings-estimates-2311145.html

Tuesday, June 13, 2017

Kerala government allows BHEL to exit from joint venture with EML

The Kerala government on Monday allowed Bharat Heavy Electricals Limited (BHEL) to exit the joint venture (JV) with State-run Electrical Machines Ltd. at Kasaragod. A decision in this regard was taken at a high-level meeting chaired by Chief Minister Pinarayi Vijayan. BHEL-EML was incorporated in 2011, by acquiring the Kasaragod unit of KEL, a State PSU, as a joint venture with Government of Kerala. BHEL had 51% equity in the JV and the Kerala government holding 49%. However, BHEL was unwilling to invest any amount as per the agreement, and also wanted to exit the JV, a government release said. The company with 174 employees was running on loss. In these circumstances, the Chief Minister called a high-level meeting in which Industries Minister A C Moideen, Member of Parliament P Karunakaran, Chief Secretary Nalini Netto and BEHL-Electrical Machines Ltd Managing Director S Basu, among others participated. BHEL-Electrical Machines Ltd, Kasaragod, is a Central Public Sector Enterprise (CPSE) and a subsidiary of BHEL, a Maharatna company. ref: http://www.livemint.com/Companies/1O7RN00ZAouYzOsuHmCoxN/Kerala-government-allows-BHEL-to-exit-from-joint-venture-wit.html

Monday, June 5, 2017

BHEL to pay 79% dividend for fiscal 2016-17

Bharat Heavy Electricals Ltd has proposed an equity dividend of 79% for fiscal 2016-17. In fiscal, 2016-17 BHEL has achieved double-digit growth in its topline and bounced back into profit. During the year, BHEL recorded a turnover of Rs 28,840 crore up 11% over the previous year- after reversing the trend of negative topline growth prevailing for the last 3 years. The company has also returned to profitability with a Profit before tax of Rs 628 crore compared to a loss of Rs 1164 crore in the last fiscal. PAT stood at Rs 496 crore, against a net loss of Rs 710 crore in the previous year. The stock traded in a positive territory at Rs 140.65 per share on BSE at 12:22 IST on Monday’s trade attracting a total traded quantity of 2.72 lakh. ref: http://www.indiainfoline.com/article/news-top-story/bhel-dividend-bhel-to-pay-79-dividend-for-fiscal-2016-17-117060500069_1.html