BHEL

LIC to buy 5% stake in BHEL

LIC to buy 5% stake in BHEL

State-run Life Insurance Corporation of India (LIC) will acquire 5 per cent stake in Bharat Heavy Electricals Ltd (BHEL) through a block deal, which is expected to fetch the national exchequer nearly Rs 20.46 billion.

The announcement was made on Friday by Disinvestment Secretary Ravi Mathur, who said that the government would divest 5 per cent stake in BHEL to LIC through a block deal this fiscal.

Bhel Patrons Owe Rs. 20, 000 Crore to the Company

Bhel Patrons Owe Rs. 20, 000 Crore to the Company

Customers of the Bharat Heavy Electricals Ltd (Bhel) are reported to owe around Rs. 20, 000 crore in pending payments to the state run company.

It was reported that the company had a total outstanding of Rs. 40, 000 crore. However, 50% of the dues are not still matured for payments because of their connections with the project targets. It is considered as the largest power generation equipment manufacturer of India.

BHEL Q1 Net Profit Balloons 22% at Rs 815 Crore

BHEL Q1 Net Profit Balloons 22% at Rs 815 CroreState-run BHEL has announced an increase of 22 % for a year-on-year basis in its first quarter of the fiscal year. In the April-June quarter, its net profit raised to Rs 815 crore over Rs 667.7 crore in same period during the previous fiscal year.

In addition, the net sales skyrocketed by 10% to find Rs 7,190 crore against Rs 6,479.7 crore for a year-on-year basis.

BHEL and NTPC accused of accepting bribes from U.S Based Company

BHEL

Officials from Bharat Heavy Electricals Ltd (BHEL) and the state owned NTPC have allegedly accepted bribes from a U.S based company. The allegations filed in the U.S Court claim that these bribes were accepted in exchange for large contracts. The U.S based company in question is the Control Component Inc (CCI), California.

The Control Component Inc., a company involved with the manufacture of valves admitted to making approximately 236 corrupt payments from 2003 to 2007 in over 30 countries in exchange for contracts that amounted to about $

BHEL, Alstom to bid for Metro Rail Project

BHEL, Alstom to bid for Metro Rail Project

It has been informed that BHEL and Alstom will bid jointly for an upcoming rail project in India. State-run Bharat Heavy Electricals Limited (BHEL) has decided that it will join hands with Alstom for a metro rail project.

Alstom is a leading firm from France. Both of them will jointly bid for Chennai Metro Rail Project. It is going to be one of the prestigious projects in India. The approximate cost of this project is Rs. 14, 000 crore.

BHEL and ABB's Indian unit Submitted Lowest Bid for Power Transmission Project

BHEL and ABB's Indian unit Submitted Lowest Bid for Power Transmission Project

The lowest bid for a 60 billion rupee power transmission project to be awarded by Power Grid Corp was submitted by a group of Bharat Heavy Electricals Ltd and ABB's Indian unit, according to the sources.

As per the highest paid source, "They have quoted about 7 billion rupees less than the estimated cost of 6,000 crores (60 billion rupees)".

No plans to re-launch Electravans by BHEL

No plans to re-launch Electravans by BHEL

The maker on India's first battery operated bus, Bharat Heavy Electricals Limited (BHEL) has no plans to bring back the eco friendly 'Electravan' even as the concerns over pollution and global warming has created a space for such vehicles in the market.

BHEL reports a 35 pc growth in Q3 to Rs 1,072 crore

BHEL reports a 35 pc growth in Q3 to Rs 1,072 croreIndia's biggest power equipment maker, Bharat Heavy Electricals Ltd has reported a 35 percent in its net profit to Rs 1,072.5 crore in the third quarter of the current financial year over the same period last year.

Total income of the firm rose to Rs 7,422.5 crore for the December quarter, against Rs 6,328.5 crore in the same period previous fiscal. BHEL reported the numbers in a filing to BSE today.

BHEL scraps Singur power project plan

State owned Bharat Heavy Electricals Ltd (BHEL) has pulled its hand from the proposed thermal power plant in Singur stating some technical and financial problems. The firm has apprised West Bengal government about its decision through a letter addressed to the West Bengal Power Development Corporation Managing Director Mr. Debashish Sen.

BHEL ties up with Madhya Pradesh Power Generation Co for Power Plant

Government held BHEL has entered into an alliance with Madhya Pradesh Power Generation Co. Ltd. The two companies have decided to form a JV with the aim to construct, own and operate a 1,600 MW coal-based power facility at Khandwa in Madhya Pradesh.

In an announcement, BHEL said that at the beginning, the two companies will possess 50% equity stake each in the JV. Later, they will reduce their holding equity stake to 26 per cent each and the remaining 48 per cent stake will be pledged by banks, financial institutions and its other associates.