BHEL Receives DVC LTNP For Durgapur Project; Shares Decline

Mumbai, June 11: Bharat Heavy Electricals Ltd (BHEL) has received a Limited Notice to Proceed (LTNP) from Damodar Valley Corporation (DVC), Kolkata, for the 1×800 MW Durgapur supercritical thermal power station project.

The company informed exchanges that the LTNP pertains to the advance engineering and procurement of critical long lead items under the main plant package for the project.

According to the disclosure, BHEL had earlier emerged as the successful bidder for the major tender floated by DVC covering the boiler, turbine and generator package for the thermal power project.

The company stated that the LTNP contract carries a value of over ₹90 crore excluding GST. The order relates specifically to preliminary engineering activities and procurement of long lead equipment before the final execution order for the full package.

As per the filing, the main plant package order for supply and execution is expected to be awarded to BHEL upon completion of 10 months from the issuance of the LTNP.

The company added that the project falls under international competitive bidding, while the awarding entity, DVC, is a domestic public sector undertaking.

Stock Market Snapshot

BHEL share price closed lower on June 11, 2026, even after the company disclosed the project-related development involving DVC’s thermal power expansion plan.

The stock settled at ₹370.95, down 1.68%, as of 15:25 IST.

BHEL share price traded in a narrow range during the second half of the session after witnessing weakness earlier in the day. Broader market sentiment and profit-booking pressure in capital goods counters appeared to weigh on the stock despite the order-related update.

Investors continue to monitor execution visibility across the company’s thermal power, transmission and industrial equipment businesses as government-led infrastructure spending remains active.

Thermal Power Ordering Momentum Continues

The Durgapur project forms part of ongoing thermal capacity additions and renovation activity across India’s power generation sector.

BHEL remains one of the key domestic engineering and manufacturing companies participating in large-scale thermal and infrastructure projects through boiler, turbine and generator packages.

The LTNP mechanism allows advance engineering work and procurement of critical components before issuance of the final project execution order, helping reduce project timelines for large thermal projects.

According to the exchange filing, the LTNP contract will remain valid for 10 months from the date of issuance.

Company Background

Bharat Heavy Electricals Ltd is a state-owned engineering and manufacturing company engaged in power generation equipment, transmission systems, transportation, defence and industrial engineering solutions.

Damodar Valley Corporation is a public sector power utility operating thermal and hydropower assets across eastern India.

Conclusion

BHEL’s receipt of the LTNP from DVC adds to its thermal power project pipeline and reinforces ordering activity in India’s conventional power generation segment.

While the stock ended lower during the session, the development reflects continued project opportunities in utility-scale thermal infrastructure and long-cycle engineering contracts.

Source:

• https://www.bseindia.com/stock-share-price/bharat-heavy-electricals-ltd/bhel/500103
• https://www.bseindia.com/xml-data/corpfiling/AttachLive/c36ca67d-00dc-49ef-a618-4832384184eb.pdf