Shares of state-owned Bharat Heavy Electricals Limited went up by over 2 per cent on Friday after the engineering major secured an order worth over Rs 21,000 crore from Meja Urja Nigam Pvt Ltd (MUNPL) for setting up the 3x800 MW Meja supercritical thermal power project Stage-II at Prayagraj in Uttar Pradesh.

The contract covers the engineering, procurement and construction (EPC) package, including design, engineering, manufacturing, supply, construction, erection, testing and commissioning works. BHEL said the order was awarded through international competitive bidding. The project is to be completed within 70 months from the date of the notification of award, translating to nearly six years.

MUNPL is a joint venture between NTPC Ltd and Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd. BHEL clarified that the order does not fall under related-party transactions.

The deal comes close on the heels of BHEL securing a Rs 2,000-2,500 crore order on June 3 from a Nigerian entity. The contract agreement was signed with Nigeria's Dangote Petroleum Refinery & Petrochemicals Free Zone Enterprise on June 2, according to a regulatory filing.

The order pertains to design, manufacturing, supply and supervision of erection and commissioning of eight gas turbine generator packages for the petroleum refinery and polypropylene plant in Dangote Industries Free Zone, Nigeria, the company informed the stock exchanges. The contract will be executed within 26 months from the start date or the effective date of the agreement.

The BHEL share price rose by 2.86 per cent to Rs 400.35 apiece intraday on Friday.

The engineering giant’s stock price has now risen by 55.75 per cent in the last 12 months and 36.55 per cent year-to-date. Total traded volume so far in the day stood at 19.19 times its 30-day average. The relative strength index was at 44.17.

Bharat Heavy Electricals Limited (BHEL) reported a 155.8 per cent increase in its consolidated net profit to to ₹1,290.47 crore for the January to March quarter of financial year 2025-26.

The engineering and manufacturing enterprise registered a turnover of around Rs. 32,350 crores (provisional) for FY 2025–26, marking a growth of 18 per cent over the previous year.

The company secured total order inflows of around Rs. 75,000 crores during the year. With this, BHEL’s total outstanding order book at the end of FY 2025–26 stands at around Rs. 2.4 lakh crores.