Hot Pursuit     06-Mar-14
ALSTOM India gains after winning Bhel contract
ALSTOM India rose 2.73% to Rs 359.05 at 9:52 IST on BSE after the company said it won a contract worth approximately Rs 679 crore from state-run Bhel to supply two supercritical boilers for a super thermal power project in Odisha.

The company made the announcement after trading hours on Wednesday, 5 March 2014.

Meanwhile, the BSE Sensex was up 93.11 points, or 0.44%, to 21,369.97.

On BSE, so far 11,000 shares were traded in the counter, compared with an average volume of 12,364 shares in the past one quarter.

The stock hit a high of Rs 363.50 and a low of Rs 355 so far during the day. The stock hit a 52-week high of Rs 408 on 17 May 2013. The stock hit a 52-week low of Rs 285 on 6 August 2013.

The stock had outperformed the market over the past one month till 5 March 2014, rising 9.89% compared with the Sensex's 5.01% rise. The scrip had, however, underperformed the market in past one quarter, falling 6.89% as against Sensex's 1.52% rise.

The small-cap company has an equity capital of Rs 67.23 crore. Face value per share is Rs 10.

ALSTOM India said it won a contract worth approximately Rs 679 crore by Bharat Heavy Electricals (Bhel) to supply two 800 megawatts (MW) supercritical boilers for Darlipalli super thermal power project (STPP) located in Sundergarh, in the State of Odisha (India). This project forms part of NTPC's bulk 800 MW tender.

Under the scope of the contract, Alstom, the sole licensor for Bhel supercritical technology, will design the 800 MW supercritical boilers and supply identified pressure parts along with windboxes, pulverizers and airpreheater components. The company will also assist Bhel with technical advisors during the erection and commissioning of the units. Key components will be manufactured in Alstom's facilities in Concordia and Wellsville, USA, as well as in Durgapur and Shahabad, India. The units are expected to be commissioned starting in 2017, the company said in a statement.

Out of the entire aforesaid contract, ALSTOM India's scope of work would be approximately Rs 379.80 crore, ALSTOM India said.

ALSTOM India reported net loss of Rs 7.58 crore in Q3 December 2013, lower than net loss of Rs 14.59 crore in Q3 December 2012. Net sales rose 9.13% to Rs 531.49 crore in Q3 December 2013 over Q3 December 2012.

ALSTOM India provides engineering, manufacturing, project management and supply of products and solutions for infrastructure sector.

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