BHEL wins big-ticket orders for hydro projects
- State-owned Bharat Heavy Electricals Ltd (BHEL) has bagged two large orders cumulatively worth ₹3,200 crore. One is for electro-mechanical works for a hydroelectric project in Andhra Pradesh and the other is for pumpsets for lift-irrigation projects in Telangana.
- BHEL is a market leader in pumpsets for hydroelectric power projects and commands a 45% market share. The stock gained 1.2% today.
Jubilant Foodworks invests in Barbeque Nation
- Shares of Jubilant Foodworks were upbeat today after the company announced that it will invest ₹92 crore to buy almost 11% in the casual-dining restaurant chain Barbeque Nation.
- The company, which also holds the master franchise for Domino’s Pizza, recently widened its spread and ventured into Chinese cuisine, biryanis and ready-to-cook sauces. Its stock gained 4.2% today and has risen over 65% in 2020.
Greenpanel soars on capex plans
- The wood-panel maker plans to invest ₹55 crore at its medium-density fibreboard (MDF) plants located in Uttarakhand and Andhra Pradesh. The capex will be funded through a mix of internal accruals and debt.
- MDF contributes 76% of the company’s sales and in Q2, MDF sales grew 33% YoY. Greenpanel’s shares are trading at a lifetime high and have gained over 400% from their 52-week lows. The stock was up 2.9% today.
Tejas Networks bags large order
- The Bengaluru-based networking products maker was locked in the 5% upper circuit today after the company announced that it has received an order worth $13 million (nearly ₹95 crore) to supply broadband products.
- This order from a South-East Asian telecom company is to be executed within the next 12 months and constitutes roughly 25% of the company’s FY20 revenues.