Bhel bags orders worth up to ₹28,000 cr from Adani Power for four projects
Bharat Heavy Electricals secured new business.
· BS Companies
The state-owned engineering company received orders from the billionaire Gautam Adani-controlled firm for four projects with two 800-megawatt units…
The analysis
Bharat Heavy Electricals reported ₹28,000 cr. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is +6.0% on the day at ₹424.10, and has returned -2.7% over three months. It sits 9% below its 52-week high. The capital goods & engineering sector has moved -6.2% over the same period, so Bharat Heavy Electricals is running 3.5 points ahead of its peers.
For Bharat Heavy Electricals, the question is how much of this is already reflected in the price and how much re-rates the capital goods & engineering peer set alongside it.
Market context
- In focus: Bharat Heavy Electricals (BHEL) (BHEL), in Capital Goods & Engineering.
- On the day, 2 of 2 are higher: Bharat Heavy Electricals (BHEL) leads at +6.0% and Adani Power trails at +3.0%.
- Over three months: Bharat Heavy Electricals (BHEL) -2.7% against Capital Goods & Engineering -6.2% (3.5 points ahead); Adani Power -8.5% against Power -13.4% (4.9 points ahead).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Bharat Heavy Electricals (BHEL)BHEL · Capital Goods & Engineering | ₹424.10 | +6.0% | -5.0% | -2.7% | -8.6% | 1.3× | — |
| Adani PowerADANIPOWER · Power | ₹201.31 | +3.0% | -0.4% | -8.5% | -19.1% | 0.8× | — |
Capital Goods & Engineering
1M -8.9% · 3M -6.2%
Bharat Heavy Electricals (BHEL)
Power
1M -4.1% · 3M -13.4%
Adani Power
Prices as of 4 Nov 2026, 14:32 IST. Sector moves are the average of the stocks we track in each sector.
In this story
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