Shares of Bharat Heavy Electricals Limited (BHEL) experienced a significant boost, soaring by 12% on Monday, marking its most substantial single-day surge since September 1, 2021. The surge comes in the wake of another potentially sizable order in the pipeline.

The rise in BHEL’s stock is attributed to the board approval of a substantial investment by state-run peer NTPC. NTPC approved an investment of Rs 17,195.3 crore for the third phase of the Singrauli Super Thermal Power Project, a 2×800 MW project. Notably, BHEL was the sole bidder for the construction of the Singrauli plant, sparking optimism and driving the surge in BHEL’s shares.