Bharat Heavy Electricals Ltd (BHEL) and Coal India Ltd (CIL) have formed a joint venture company named Bharat Coal Gasification and Chemicals Limited (BCGCL) to venture into the coal-to-chemicals industry. The newly incorporated BCGCL, with a capital structure of Rs 11 crore, aims to leverage coal gasification technology to produce ammonia and nitric acid as end products. This joint venture received clearances from NITI Aayog and DIPAM. Additionally, BHEL has partnered with Bhabha Atomic Research Centre (BARC) for Indigenous Alkaline Electrolyser Technology, a crucial step towards hydrogen production in sectors like refineries and transportation. BHEL's stock price saw a substantial increase, reaching Rs 298.95 per share, showcasing a positive market sentiment. With a strong track record in the power sector, BHEL's strategic collaborations and positive financial reports position it favorably for future growth and innovation.