DEE Development Shares Skyrocket 17% on Securing Order from BHEL 

Shares of DEE Development Engineers Ltd skyrocketed 17% on securing a new order from Bharat Heavy Electrical Limited (BHEL) for its subsidiary DEE Piping Systems, adding to the company’s order book.

DEE Development announced in an exchange filing that its material subsidiary, DEE Piping Systems, has obtained a new contract with BHEL for the fabrication and supply of Critical Piping solutions on a job-work basis. The order totals Rs 173 crore, according to the exchange filing.

“We wish to inform that the company and its material subsidiary have secured contracts aggregating Rs 173 Crore. DEE Piping Systems (Thailand) Co., Ltd., the material subsidiary of the company, has been awarded contracts of US$ 8 million on a job work basis and US$ 1.5 million with a material basis,” the company said in the filing.

According to the petition, the company plans to deliver HRSG piping for 11 units by December 2028 and pipe fittings and flanges by December 2027.

Moreover, on Friday, the business announced that it had obtained a $40 million deal with an overseas client to supply HRSG piping for 16 units.

In an exchange filing, the business announced that it has received a Letter of Intent from one of the leading global OEM groups in the power sector, headquartered in the United States. It further stated that the customer’s name cannot be released owing to business confidentiality.

At 2:45 pm, the shares of DEE Development were trading 13.00% higher at Rs 260.48 on NSE. 

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