BHEL shares in focus after tech pact with BARC to cut green hydrogen costs

BHEL shares: According to data from Trendlyne, the stock has an average target price of ₹213, suggesting a potential downside of around 6% from its current market level. Among 18 analysts covering the stock, the overall consensus is a ‘Hold’ recommendation.

BHEL shares will be in focus on Thursday after the company signed a Technology Transfer Agreement with the Bhabha Atomic Research Centre (BARC) to access indigenous diaphragm technology for electrolysers—a key step towards reducing the cost of green hydrogen and cutting import dependence.The agreement, announced on April 16, involves BARC’s Mixed-Matrix Membrane Diaphragm Technology, which will be used to separate hydrogen and oxygen during electrolysis. The technology is positioned as a cost-effective alternative to imported materials like Zirfon and asbestos-based diaphragms.

With this move, BHEL aims to locally manufacture alkaline electrolysers, aligning with the government’s National Green Hydrogen Mission and Make in India initiative. Financial terms of the deal were not disclosed.The move strengthens BHEL’s role in India’s clean energy transition and supports the wider adoption of green hydrogen by making local production more viable.

Electrolysers are key to producing green hydrogen, which is generated using renewable electricity and seen as a clean alternative for industries like steel, fertilisers and transport.Also Read: Stocks in news: Infosys, Jio Financial, Wipro, ICICI Bank, SpiceJetBHEL shares price targetAs per Trendlyne data, the average target price of the stock is Rs 213, which indicates a downside of 6% from the current market prices. The consensus recommendation from 18 analysts for the stock is a 'Hold'.

The stock’s Relative Strength Index (RSI) stands at 65.6, within the neutral zone (below 30 is oversold, above 70 is overbought). The MACD is at 4.

0, above its center and signal lines, indicating a bullish trend.BHEL shares are currently trading above their 5-day, 10-day, 20-day, 30-day, 50-day, and 100-day simple moving averages (SMAs), but remain below the 150-day and 200-day SMAs.Also Read: Paytm founder settles Sebi case, returns 21 million EsopsBHEL shares price performanceIn the previous session, BHEL shares closed 1.

8% higher at Rs 225.9. The stock has declined 16% over the past six months but gained 214% over the last two years.

The company’s market capitalisation stands at Rs 78,677 crore.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times).