The company made this announcement during trading hours today, 6 August 2010.

Meanwhile, the BSE Sensex was down 14.42 points, or 0.08% at 18,158.41.

On BSE, 1.86 lakh shares were traded in the counter as against an average daily volume of 49,577 shares in the past one quarter.

The stock hit a high of Rs 814 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 785.10 so far during the day. The stock had hit a 52-week low of Rs 345.20 on 11 August 2009.

The mid-cap stock had outperformed the market over the past one month till 5 August 2010, rising 9.44% as compared to the Sensex's return of 4.19%. It had also outperformed the market in the past one quarter, gaining 36.50% as compared to the Sensex's 6.35% rise.

The company has an equity capital of Rs 72.08 crore. Face value per share is Rs 10.

The first joint venture (JV) with Hitachi, Japan, is for design, manufacture, installation and commissioning of supercritical steam turbines and generators for thermal power plants while the second joint venture with Hitachi Power Europe GmbH, Germany, is for supercritical steam generators for thermal power plants.

Both the JVs will be set up in Tamil Nadu with an estimated cost of Rs 4400 crore. BGR Energy will hold 74% in the turbines JV and 70% in the boilers JV, while the rest will be held by Hitachi.

BGR Energy Systems' net profit jumped 199.1% to Rs 60.54 crore on 191.1% rise in net sales to Rs 905.43 crore in Q1 June 2010 over Q1 June 2009.