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Shares of Bharat Heavy Electricals Ltd. (BHEL) jumped nearly 3% on Friday, June 5, after the state-run engineering and power equipment manufacturer secured a major thermal power project order worth over ₹21,000 crore from Meja Urja Nigam Pvt. Ltd. (MUNPL). The stock has come off those highs since then.
In an exchange filing, BHEL said it has received a Notification of Award (NOA) for the engineering, procurement and construction (EPC) package of the 3x800 MW Meja Super Thermal Power Project (STPP) Stage-II in Uttar Pradesh.
MUNPL is a joint venture between NTPC Ltd. and Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd. (UPRVUNL).
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The contract, awarded through an international competitive bidding process, involves the design, engineering, manufacturing, supply, construction, erection, testing and commissioning of the project.
According to the company, the order is valued at more than ₹21,000 crore, excluding GST, making it one of the largest order wins announced by BHEL in recent years.
The project will add 2,400 MW of supercritical thermal power generation capacity at Meja in Prayagraj district of Uttar Pradesh. BHEL said the EPC package is scheduled to be completed within 70 months from the date of the award notification.
The company clarified that the contract does not constitute a related-party transaction.
Shares of the company jumped following the order win, but have pared most of their gains since then and are currently trading 0.6% up at ₹391.55. The stock has gained nearly 35% so far in 2026 and about 56% over the last 12 months.
In an exchange filing, BHEL said it has received a Notification of Award (NOA) for the engineering, procurement and construction (EPC) package of the 3x800 MW Meja Super Thermal Power Project (STPP) Stage-II in Uttar Pradesh.
MUNPL is a joint venture between NTPC Ltd. and Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd. (UPRVUNL).
Also read: Alembic Pharma gets USFDA nod for Tourette's Disorder treatment drug
The contract, awarded through an international competitive bidding process, involves the design, engineering, manufacturing, supply, construction, erection, testing and commissioning of the project.
According to the company, the order is valued at more than ₹21,000 crore, excluding GST, making it one of the largest order wins announced by BHEL in recent years.
The project will add 2,400 MW of supercritical thermal power generation capacity at Meja in Prayagraj district of Uttar Pradesh. BHEL said the EPC package is scheduled to be completed within 70 months from the date of the award notification.
The company clarified that the contract does not constitute a related-party transaction.
Shares of the company jumped following the order win, but have pared most of their gains since then and are currently trading 0.6% up at ₹391.55. The stock has gained nearly 35% so far in 2026 and about 56% over the last 12 months.
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