NSEState-run Bharat Heavy Electricals Ltd. (BHEL) has entered into a Technology Transfer Agreement (TTA) with the Bhabha Atomic Research Centre (BARC) for a 50 kW alkaline electrolyser system for Hydrogen production, it said in an exchange filing.This technology offered by BARC is indigenously developed and has high local material content, the company said.Through this collaboration, BHEL plans to scale up the said technology and commercialise it for applications in sectors such as refineries, fertiliser, steel, transportation and others.
"This will be a step further in BHEL's contribution to the National Green Hydrogen Mission," BHEL's statement said.The financial implications of this transaction are not specified.BHEL's shares witnessed some profit booking last week after its March quarter results and optimistic management commentary failed to enthuse the street.Revenue was flat for the March quarter, while margin of 8.8% was significantly below the expectation of 14.3% for the quarter.
On a year-on-year basis, the margin narrowed by nearly 400 basis points.The weakness in BHEL's margin was also in contrast to the expansion or beats reported by many of its capital goods peers, according to Macquarie.Out of the 18 analysts that have coverage on BHEL, 10 of them continue to have a "sell" rating on the stock, three have a "hold" recommendation, while five of them have a "buy" rating.Shares of BHEL are marginally off the day's low but are trading 0.6% lower at ₹296.85.
The stock is up 4x in the last 12 months.
NSE
State-run Bharat Heavy Electricals Ltd. (BHEL) has entered into a Technology Transfer Agreement (TTA) with the Bhabha Atomic Research Centre (BARC) for a 50 kW alkaline electrolyser system for Hydrogen production, it said in an exchange filing.This technology offered by BARC is indigenously developed and has high local material content, the company said.Through this collaboration, BHEL plans to scale up the said technology and commercialise it for applications in sectors such as refineries, fertiliser, steel, transportation and others."This will be a step further in BHEL's contribution to the National Green Hydrogen Mission," BHEL's statement said.The financial implications of this transaction are not specified.BHEL's shares witnessed some profit booking last week after its March quarter results and optimistic management commentary failed to enthuse the street.Revenue was flat for the March quarter, while margin of 8.8% was significantly below the expectation of 14.3% for the quarter. On a year-on-year basis, the margin narrowed by nearly 400 basis points.The weakness in BHEL's margin was also in contrast to the expansion or beats reported by many of its capital goods peers, according to Macquarie.Out of the 18 analysts that have coverage on BHEL, 10 of them continue to have a "sell" rating on the stock, three have a "hold" recommendation, while five of them have a "buy" rating.Shares of BHEL are marginally off the day's low but are trading 0.6% lower at ₹296.85. The stock is up 4x in the last 12 months.
