Meanwhile, the BSE Sensex was up 82.18 points, or 0.51%, to 16,265.44.

On BSE, 5.16 lakh shares were traded in the counter as against an average daily volume of 8.97 lakh shares in the past one quarter.

The stock hit a high of Rs 213.40 and a low of Rs 208.75 so far during the day. The stock had hit a 52-week low of Rs 197.80 on Friday, 18 May 2012. The stock had hit a 52-week high of Rs 420.67 on 23 May 2011.

Shares of Bhel has risen 5.76% in two consecutive sessions from a recent low of Rs 201.40 on 18 May 2012. The stock had underperformed the market over the past one month until 21 May 2012, falling 16.09% compared with the Sensex's 6.85% fall. The scrip had also underperformed the market in past one quarter, sliding 35.07% as against 12.18% fall in the Sensex.

India's largest power equipment maker by sales has an equity capital of Rs 489.52 crore. Face value per share is Rs 2.

Bhel announced on Monday, 21 May 2012, that it bagged a contract for supply and installation of electrostatic precipitator package for 2x660 megawatts Solapur super-critical thermal power project in Maharashtra. The firm did not provide financial details of the contract.

The order for the electrostatic precipitator (ESP) package has been placed on Bhel by NTPC for the super-critical Solapur super thermal power project (STPP)-II in Maharashtra, being set up under the Mega Power Project Policy of the Government of India.

Bhel said its scope of work in the contract involves design, engineering, manufacture, supply and erection and commissioning of the complete ESP package.

The ESP shall be manufactured at Bhel's Ranipet plant while the High Voltage Rectifier Transformers will be supplied by the company's Jhansi plant. Bhel's Power Sector – Western Region will be responsible for erection and commissioning of the ESP, the company said in a statement.

Bhel will declare its year ended March 2012 results on 23 May 2012. The company, during trading hours on 3 April 2012, declared good provisional results for the year ended March 2012.

Bhel's provisional net profit rose 14.25% to Rs 6868 crore on 13.76% growth in turnover to Rs 49301 crore in the year ended March 2012 over the year ended March 2011. Bhel's order inflow fell 63.48% to Rs 22096 crore in the year ended March 2012 (FY 2012) over the year ended March 2011 (FY 2011).

Separately, Bhel said it has withdrawn draft red herring prospectus (DRHP) filed with the capital market regulator, Securities and Exchange Board of India (Sebi), for the proposed follow-on public offer. The government was planning to divest 5% of its stake through a follow-on public offer in Bhel, which was approved by the Cabinet in 2011. The Government of India (GoI) owns 67.72% stake in Bhel as at end 31 March 2012.

Bhel is the largest engineering and manufacturing enterprise in India in the energy-related/infrastructure sector. The company caters to the core sectors including power, transmission, industry, transportation, renewable energy, oil & gas and defence.