NTPC-BHEL Power Projects, the joint venture between state-run BHEL and NTPC for making power equipment among others, is likely to rope in a global technology provider and may offer a minority stake, an NTPC official said on Tuesday.
Nabinagar Power Generation Company Ltd is a joint venture of NTPC Ltd and Bihar State Electricity Board for this project.
State-run BHEL is exploring the possibility of formation of a separate finance company as a joint venture with a strategic partner to finance power projects.
BHEL's first gas turbine in Libya commissioned
BHEL, which posted a 70 per cent jump in net profit at Rs 1,621 crore (Rs 16.21 billion) over a record turnover of Rs 14,410 crore (Rs 144.10 billion), would appoint consultants on a case-by-case basis for acquisitions.\n\n
As the government and its Left party supporters battle over BHEL disinvestment plans, the Rajya Sabha was on Tuesday told that a decision to sell 10 per cent of its shareholding in the company through a public offer has been taken.
Stocks of public sector undertakings (PSUs) have been on fire in the past year as investors cheered an improvement in key operating metrics and embraced counters of these state-owned enterprises, analysts suggest. The S&P BSE PSU Index has gained over 90 per cent in the past year, rising much higher than the S&P BSE Sensex, which has rose nearly 19 per cent during this period, according to ACE Equity data. The BSE PSU Index, reports show, has delivered a compound annual growth rate (CAGR) of 28 per cent (including dividends reinvestments) over five years and risen by almost 60 per cent in the past year.
The government has decided to sell 10 per cent equity in Bharat Heavy Electricals Ltd and 7.5 per cent shares in Maruti Udyog Ltd next fiscal to raise close to Rs 2,500 crore.
The government said on Friday it is considering offloading 10 per cent of its equity stake in navratna public sector unit Bharat Heavy electricals Limited.
The ongoing war in Iraq has taken a toll on business of power equipment supplier Bharat Heavy Electricals with its shipments worth Rs 134 crore (Rs 1.34 billion) stranded at various ports.
Other companies which are on the block include NMDC, NALCO and IOC.
State-run power equipment maker said that new orders are drying up due to financing problems.
Narayanan has a long and distinguished career at ISRO, having played a key role in several important missions, including Chandrayaan-2 and 3, and the Gaganyaan programme.
Amid the debate on creating another state-owned power equipment manufacturing company, Bharat Heavy Electricals Ltd dubbed the idea as 'ironic' on Friday.
Medak district police in Andhra Pradesh arrested six persons in connection with some local people beating up 'outsiders', including some Tamil youth who had come for job interviews at the Bharat Heavy Electrical Ltd at Ramachandrapuram near Hyderabad.
State-owned BHEL on Friday said it is in talks with SAIL and Vizag Steel to tie up for manufacturing high grade steel, while Korean steel maker Posco may join the proposed joint venture company as a technology partner.
Bharat Heavy Electricals Ltd on Monday said it has bagged a Rs 599 crore (Rs 5.99 billion) contract for setting up a 250 MW thermal power plant in Beed district of Maharashtra.
The Union Cabinet on Thursday deferred a decision on selling equity in two public sector undertakings BHEL and Maruti.
Power equipment major Bharat Heavy Electricals on Monday announced an investment of upto Rs 1,000 crore (Rs 10 billion) in the next two years for expanding capacities to meet requirements of 11th and 12th five year plans.
Shravan Kumar Gupta, managing director of Haridwar-based Asian Ferro Alloys Limited, was arrested on Wednesday.
Imported components account for up to 30% of the firm's total production cost.
There is a flicker of hope for Tata Motors' abandoned Singur site. A team from government-owned Bharat Heavy Electricals Ltd (BHEL) visited the place, along with state government officials, for a possible project with the West Bengal Power Development Corporation.
Gung-ho about the prospects of nuclear power generation over the next two-three years, Puri said that by 2006, BHEL would clinch a technical tie-up with one of the companies from the developed world.
Heavy Industries Minister Santosh Mohan Dev will meet Finance Minister P Chidambaram on January 25 to work out the modalities for divestment in Maruti and BHEL.
At present, there are 45,000 plus employees in various BHEL units and the company plans to enhance it to 52,000-55,000 by the end of 2012.
BHEL had set a target to add 20,000 people in the current Five-Year Plan (2007-12), of which over half have already been enrolled.
Bharat Heavy Electricals Ltd is 'overburdened' and more equipment manufacturing companies are needed to achieve the 11th Plan target of adding 66,000 MW of fresh generation capacity, a top government official said on Monday.
This is part of the government's plan to raise Rs 40,000 crore (Rs 400 billion) from disinvestment in the current financial year.
Prime Minister Manmohan Singh has asked administrative ministeries to work out viable plan for disinvestment of BHEL and Coal India, including dividend payment, so as to achieve Rs 40,000 crore (Rs 400 billion) target in the current fiscal.
Abandoning its attempts to push politicians on the board of Navratna companies as independent directors, the government has nominated four experts to the board of Bharat Heavy Electricals Ltd.
Bharat Heavy Electricals is exploring opportunities for an acquisition or a joint venture partnership with companies from the United States and Europe.
Going ahead with the sale of part of its equity in Bharat Heavy Electricals Ltd despite opposition from the Left, the UPA government has invited expression of interest from investment bankers for the divestment.
Power equipment supplier Bharat Heavy Electricals Ltd plans five joint ventures in the nuclear sector and locomotive manufacturing. The company has decided to invest Rs 1,000 crore in a castings and forgings joint venture, Chairman and Managing Director K Ravi Kumar said.
Police suspect the killing to be the handiwork of persons known to the couple, both in their late fifties.
The government on Friday cleared disinvestment in two bluechip state-owned companies IOC and Bhel, which would fetch over Rs 7,300 crore (Rs 73 billion) to the exchequer in the current fiscal.
Equity investors will track the trading activity of foreign investors, global trends and ongoing earnings results for further cues, and benchmark indices may continue to witness consolidation in a holiday-shortened week amid the monthly derivatives expiry, analysts said. Markets fell sharply last week amid massive foreign capital outflows and dismal Q2 earnings so far. Weakness in the markets might continue in the near term amid cautiousness among investors ahead of the US presidential election early next month, an expert said.
