Bharat Heavy Electricals (BHEL) climbed up 3.42% to Rs 1771 on reports that it gained Rs 2900-crore agreement for constructing three 500-megawatt units in northern India.

In the meantime, the BSE Sensex was up 175.78 to 15,483.76 chasing firm international markets. Asian stocks also jumped accompanying a third session of gains on Wall Street, as troubles about worldwide credit problems continued to relieve.

Today, about 2.21 lakh shares of the scrip were traded on the BSE counter. In the last three months, the stock showed an average daily volume of 1.50 lakh shares.

The stock touched an intraday high of Rs 1786 and an intraday low of Rs 1716 during the day. The stock had hit a 52-week high of Rs 1899 on 24 July 2007 and a 52-week low of Rs 970 on 16 March 2007.

According to the fresh media reports, Ministry of Heavy Industries (MoHI) is supporting BHEL for super critical projects. A draft cabinet note by MoHI shows that the company should get first 10 projects on a nomination basis.

Its net earnings climbed 22.1% to Rs 288.91 crore on a 21.6% enhancement in sales to Rs 3233.92 in the first quarter of 2007 as against Q1 June 2006.

Bhel’s prime activities are constructing and distributing electrical, electronic, mechanical and nuclear power equipment. The company operates in two sections, which are power and industry. The company’s plants are situated in Ranipet, Goindwal, Jagdishpur, Tiruchy, Rudrapur, Hyderabad, Bangalore and many other places.