Wednesday, August 27, 2008

BHEL bags another UAE contract

BHEL has bagged a contract worth Rs. 140 crores for supplying two gas turbine generating units of 42 MW each to International Energy Resources, a UAE-based company. This order puts the total size of the order book for the company to Rs. 450 crores specifically from UAE. We view this as mildly positive for the stock with limited upside.

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