State-run equipment firm Bharat Heavy Electricals Limited (BHEL) has informed that it has secured a contract worth Rs 200 crore from a Vietnamese firm for its Hydro Power Project. The order has been placed by Nam Chien Hydropower Joint Stock Company of Vietnam, a state-owned company, with Song Da Corporation, one of the largest companies under the Ministry of Construction and Petro-Vietnam, the state owned giant Oil and Gas group, as major stakeholders. The contract envisages design, engineering, manufacture, supply and supervision of installation and commissioning of the complete Electro-mechanical equipment package for the hydro power project comprising two Pelton type hydro generating units of 100 MW each. The major equipment to be supplied for the project includes hydro turbines, generators, transformers, controls, monitoring and protection system and switchgear. The project is located in Muong La, 350 kilometres north of Hanoi and is slated to be completed by end-2010.

The capital good sector is presently going under pressure but on its reverse, market analysts are looking very optimistic and bullish on the counter. They have suggested 'Buy' call on BHEL as the company seems to have good prospects and advice investors to remain invested.

The counter has support at 1600 levels and the investors can look for a target of Rs 2100 levels in the long term.