Bharat Heavy Electricals (BHEL), witnessed a rise in share price on Thursday after it has bagged a prestigious contract for setting up a Combined Cycle Power Plant (CCPP) in Karnataka on EPC (engineering, procurement & construction) basis, involving supply and commissioning of a fuel-efficient state-of-the-art Advanced-class gas turbine.

Valued at Rs 12.02 billion, the order for the 370 MW Gas Turbine-based CCPP to be installed at Yelahanka on the outskirts of Bengaluru city, has been placed on BHEL by Karanataka Power Corporation (KPCL).

Shares of the company gained Rs 4.15, or 1.55%, to trade at Rs 272 at the BSE (11.15 a.m., Thursday).