IRFC, Power Grid, NTPC, BEL, BHEL, NTPC Green Energy managed to close the day with impressive gains in an overall negative market. Indian markets managed to close with very small decline on a trading session that was expected to witness a strong selling pressure after US President announced import tariffs on all countries across the world. Power Grid and BHEL are looking strong on technical charts.

BHEL-Hitachi Energy Consortium Secures Landmark HVDC Project for Adani Subsidiary in Rajasthan

Bharat Heavy Electricals Limited (BHEL), in a strategic consortium with Hitachi Energy India, has been awarded a marquee contract by Rajasthan Part I Power Transmission Ltd.—a wholly owned arm of Adani Energy Solutions Ltd. (AESL). The contract entails the design, supply, and execution of a 6,000 MW, 800 kV bi-pole, bi-directional High-Voltage Direct Current (HVDC) transmission infrastructure connecting Bhadla in Rajasthan to Fatehpur in Uttar Pradesh.

The HVDC terminals, forming part of India’s green energy corridor, are scheduled to become operational by 2029. This cutting-edge project will play a pivotal role in facilitating the nation’s target of generating 500 GW from renewable energy sources by 2030. Equipped with bidirectional power flow capability and enhanced grid stability features, the system will serve as a critical enabler for the rapid integration of renewables into the national grid.

Empowering Domestic Manufacturing: ‘Make in India’ in Focus

Reinforcing its commitment to the Government of India's 'Make in India' initiative, BHEL will manufacture and supply key components for the HVDC link from its indigenous production facilities. The Bhopal plant will deliver Converter Transformers, Shunt Reactors, Filter Bank Capacitors, MV Switchgear, and Instrument Transformers. Meanwhile, the Electronics Division in Bengaluru will supply state-of-the-art Thyristor Valves—integral to the power conversion process at both ends of the HVDC line.

These advanced valves will convert alternating current (AC) into direct current (DC) at the Bhadla converter station for long-distance transmission across 950 kilometers, and subsequently revert DC back to AC at the receiving station in Fatehpur for integration into the regional grid.

TopNews Team has reviewed technical levels for stocks

IRFC

Currently trading at Rs 125.20, IRFC is well below its 23.6% retracement level.

A move above Rs 154.25 (61.8%) could signal early recovery.

The stock needs to break past Rs 168.52 (50%) for a bullish reversal.

Power Grid

Trading at Rs 289.35, the price sits below its 50% retracement at Rs 306.77.

Support is visible near Rs 292.74 (61.8%), making it a crucial zone.

A breakout above Rs 320.81 (38.2%) could confirm upward trend continuation.

NTPC

NTPC is hovering at Rs 351.75, around its 61.8% Fibonacci level.

Sustaining above Rs 352.26 would strengthen bullish momentum.

Resistance lies ahead at Rs 388.99 (38.2%) and Rs 411.72 (23.6%).

BEL

At Rs 283.00, BEL is just above its 61.8% Fibonacci level of Rs 264.95.

Watch for consolidation around Rs 279.38 (50%) before next breakout.

Reclaiming Rs 311.65 (23.6%) could trigger stronger buying interest.

BHEL

Currently priced at Rs 209.16, BHEL trades below all key Fibonacci levels.

It’s important to monitor Rs 236.87 (61.8%) and Rs 255.68 (50%) as potential targets.

The stock remains in a bearish phase unless it breaks above Rs 274.48 (38.2%).

Fibonacci retracement levels