BHEL Share Price Hits 14-Year High, Rallies for 12 Days; Stock Surges 33% Above OFS Price

Bharat Heavy Electricals share price (NSE: BHEL) continued their strong rally and touched a 14-year high of ₹339 during Thursday’s session, even as the broader market remained weak. The stock has risen for 12 consecutive trading sessions and has gained nearly 38% during this period. This is its highest level since November 2011, though still below its all-time high of ₹390 recorded in 2007.

BHEL Share Price Trading 33% Above OFS Price

The stock is now trading about 33% higher than its offer-for-sale (OFS) price of ₹255.30. In February 2026, the government raised ₹4,470 crore by selling a 5% stake in the company through the OFS route.

Institutional Investors Increase Stake

Institutional investors significantly increased their holdings during the March 2026 quarter.

• Foreign institutional investors (FIIs) stake rose to 7.2% from 6.3%.
• Domestic institutional investors (DIIs) holding increased to 23.98% from 19.7%.
• Retail investor stake slightly declined to 9.3%.

Strong Order Book and Business Outlook

The company is entering FY27 with strong momentum backed by a large and growing order pipeline. BHEL is expected to start the year with an order book of at least ₹2.5 trillion, with around 24 GW of projects likely to be awarded between FY27 and FY29.

The government has also allowed BHEL to import 21 key input materials from China, which may speed up project execution and improve margins.

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BHEL Financial Performance

BHEL’s EBITDA remained stable at ₹590 crore during the first 9 months of FY26 due to lower raw material costs and better order execution.

Nuclear Power Push Could Benefit BHEL

India’s renewed focus on nuclear energy is another positive factor. With a target of 100 GW nuclear capacity by 2047, major infrastructure players like BHEL are expected to benefit from future project opportunities.

Conclusion

BHEL’s rally is supported by a strong order book, improving margins, higher institutional participation and favourable government policies. With multiple growth drivers in place, the company enters FY27 with strong business visibility.

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