BHEL share price today jumps nearly 9% to hit a 52-week high. Here's why

BHEL share price: Shares of Bharat Heavy Electricals (BHEL) rose as much as 9 per cent to hit their fresh 52-week high today (May 3). The stock opened at ₹296.90 against its previous close of ₹292.65. It then jumped 8.7 per cent to hit its fresh 52-week high of ₹318.15 and traded 6.80 per cent higher at ₹312.55 apiece at around 10.15am.

BHEL share price: The stock opened at ₹296.90 against its previous close of ₹292.65.

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BHEL share price has gained since April 30 when the company announced that it was entering into a strategic partnership agreement for the railway signalling business with HIMA Middle East FZE, Dubai. 

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"BHEL has entered into a strategic partnership agreement for the railway signalling business with M/s HIMA Middle East FZE, Dubai (a wholly owned subsidiary of HIMA Paul Hildebrandt GmbH, Germany). HIMA is the world’s leading solution provider for safety-related automation in the railways and process industries," BHEL said in an exchange filing.

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"BHEL has been supplying locomotives, electrics for EMU/MEMU, propulsion systems, traction motors, traction alternators, traction transformers, etc., to Indian Railways. The partnership with HIMA will further enhance BHEL’s offerings to Indian Railways," the company said.

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