Multibagger PSU Hits 52-Week High Again, Spikes 12%; Up 29% in 5 Days

  • Investing.com
  • Stock Market News
Multibagger PSU Hits 52-Week High Again, Spikes 12%; Up 29% in 5 Days

By Malvika Gurung

Investing.com -- Shares of the state-owned engineering and manufacturing giant BHEL (NS: BHEL ) zoomed 12.16% on Friday and hit a new 52-week high of Rs 136 apiece in the morning trade, a day after recording its previous 52-week high of Rs 121.15 apiece on August 31, 2023.

The public sector undertaking (PSU) stock has been on an upward trend for five trading days in a row, jumping 29.12% during the period.

The midcap state-owned stock has jumped 33.7% in a month and shot up 69.3% so far this year (YTD basis). The PSU major has soared 106.2% over a one-year period, making it a multibagger.

The largest government-owned power generation equipment manufacturer announced on September 1, 2023, that its Industrial Systems & Products (I, S &P) Director Renuka Gera, and Power Director Upinder Singh have been relieved from their respective positions on the Board of BHEL on August 31, 2023, upon attaining the age of superannuation.

BHEL has received an order from PSU major NTPC (NS: NTPC ) for setting up the 2x800 MW Supercritical Thermal Power Project Stage-II at Lara in Chhattisgarh through International Competitive Bidding.

The order came only a few days after the engineering giant bagged an order worth Rs 2,241.86 crore from the leading hydropower PSU NHPC (NS: NHPC ) for the design, engineering, manufacturing, supply, erection and commissioning of the Electro-Mechanical package of Dibang Multipurpose Project in Roing, Arunachal Pradesh.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100

Related Articles