A contract to construct a Raw Material Handling System at NMDC's under construction Integrated Steel Plant, Nagarnar, Bastar district, Chhattisgarh is being executed by BHEL-ISG Bengaluru division.
BHEL received yesterday (15th July 2019), a Notice of Termination dated 13th July 2019 from NMDC for the above contract.
BHEL has various such commercial contracts under execution at any given point of time. Invocation of contractual clauses such as termination and provision for its redressal are part of contract management. BHEL proposes to take up matter through the redressal mechanism available for disputes resolution between CPSEs.
Shares of BHARAT HEAVY ELECTRICALS LTD. was last trading in BSE at Rs.64.65 as compared to the previous close of Rs. 64.2. The total number of shares traded during the day was 497818 in over 1769 trades.
The stock hit an intraday high of Rs. 65.2 and intraday low of 63.9. The net turnover during the day was Rs. 32147291.