BHEL
BHEL approves Rs 65 crore equity infusion in NBPPL joint venture with NTPC
Bharat Heavy Electricals Ltd (BHEL) announced on September 14, 2026, that its board has approved a further investment of ₹65 crore in NTPC BHEL Power Projects Private Limited (NBPPL), its 50:50 joint venture with NTPC Ltd. The investment will be made in one or more tranches as BHEL’s equity contribution at face value, with NTPC also contributing equally to maintain the joint ownership structure.
The funds are intended to settle urgent liabilities and ensure NBPPL continues as a going concern. The investment is expected to be completed during FY2026-27 and will be made through cash consideration. No government or regulatory approvals are required for the transaction, which will be conducted at arm’s length.
NBPPL, incorporated in April 2008, undertakes engineering, procurement, and construction (EPC) contracts for power plants and manufactures power plant equipment. The joint venture reported a provisional turnover of ₹1.04 crore in 2025-26, down from ₹3.48 crore in 2024-25 and ₹18.19 crore in 2023-24.
BHEL confirmed that its shareholding in NBPPL will remain at 50% following the infusion. The company’s shares have shown strong momentum in recent months, hitting multiple record highs and extending their annual winning run toward a sixth consecutive year. In July 2026, the stock reached a fresh record high of ₹446, and has gained 50% year-to-date.
Over the past five years, BHEL’s stock has delivered positive returns, with 2023 being its strongest year at a 144% surge. From a 2020 low of ₹18.40, the shares have risen 2,243% to trade at ₹431 as of the latest update.
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