2 Stocks jump up to 7% after receiving orders worth ₹32,800 Cr for thermal power projects

Synopsis: Engineering majors surge after emerging as L1 bidders for ₹32,800 crore thermal projects, boosting order books, improving earnings visibility, and strengthening investor sentiment amid power sector capex revival.

Engineering stocks saw a sharp uptick after fresh developments in the thermal power segment. According to CNBC TV18, Companies emerging as lowest bidders for large-value projects triggered strong market optimism. The ₹32,800 crore opportunity is expected to boost order books and improve earnings visibility going forward.

Shares of Larsen & Toubro, with a market capitalization of ₹5,50,138 crore, rose 7.35% to ₹4,000 from the previous close of ₹3,725, hitting an intraday high of ₹4,031. Meanwhile, Bharat Heavy Electricals Limited (BHEL), with a market cap of ₹92,513 crore, gained 4.86% to ₹266 from ₹253.85, touching an intraday high of ₹267.7.

What’s the News

Shares of Bharat Heavy Electricals Limited (BHEL) surged after the company emerged as the L1 bidder for the NTPC Talcher Thermal Power Project in Odisha, with an order value of ₹10,300 crore – part of the broader ₹32,800 crore order pipeline. This win marks a significant boost for the PSU and signals a revival in large-scale thermal power investments in India. The project is expected to strengthen BHEL’s order book and improve revenue visibility over the medium term. 

Investors reacted positively, anticipating better execution momentum and potential margin improvement as fresh orders began to translate into revenues. As of December 2025, BHEL maintained a robust order book totaling ₹2.23 lakh crore, providing strong revenue visibility for the coming years.

Meanwhile, Larsen & Toubro (L&T) also witnessed strong buying interest after securing L1 status for the Patratu Thermal Power Expansion Project in Jharkhand valued at ₹22,500 crore. The order further bolsters L&T’s already strong pipeline and reinforces its leadership in the EPC and infrastructure space. With India accelerating power capacity expansion, such large-scale wins are expected to support sustained earnings growth.

Backed by robust execution capabilities and a diversified portfolio, L&T remains well-positioned to capitalize on the ongoing capex cycle, with the latest development strengthening investor confidence. Larsen & Toubro (L&T) continues to demonstrate its market leadership with a massive order book of ₹7.33 lakh crore as of December 2025.

About the Companies

Bharat Heavy Electricals Limited (BHEL)

BHEL is India’s largest power equipment manufacturer and a leading public sector engineering company. It specializes in designing, manufacturing, and servicing thermal, hydro, nuclear, and renewable energy equipment. With decades of expertise, BHEL plays a critical role in India’s power infrastructure and has a strong presence in EPC contracting and industrial solutions.

Larsen & Toubro (L&T)

L&T is a leading multinational engineering and construction conglomerate with a strong presence across infrastructure, power, defense, and technology services. Known for executing large-scale complex projects, the company has a robust order book and global footprint. It is a key beneficiary of India’s infrastructure and capital expenditure growth cycle.

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