Bharat Heavy Electricals Ltd (BHEL) has declared that it is entering into a joint venture (JV) deal with Kerala administration.

As per reports, the said JV deal will be inked for setting up a JV firm to get hold of the Kasargod division of KEL that makes alternators for railway applications and other industrial apps.

BHEL is looking for a technology provider in order to make heavy turbines for the Atomic Power Stations to emerge following the US-Indo Civilian Nuclear agreement.

According to the company's representative, "We are holding talks with some Multi National Companies (MNCs) for the technical know-how to go in for production of heavy turbines at BHEL here."

"BHEL has plans to manufacture turbines for 700 and 1000 mega watt atomic power units in the country," the representative added.

After settling down the tech provider, BHEL together with NPCIL will sign up the contract with it.

At 02:03 pm, the shares of Bharat Heavy Electricals Ltd lost 0.2% to trade at Rs 2,430.

The share price has seen a 52-week high of Rs 2585 and a low of Rs 2160 on BSE.

Current EPS & P/E ratio stood at 92.09 and 26.42 respectively.