Life Insurance Corporation has also acquired more than two percent of the power equipment manufacturer Bhel RS 2,205 crore from the market to become the second largest shareholder after the government PSU.

LIC, which was 7.022 per cent stake in BHEL before the acquisition cycle, has bought shares in June last year to 3 May this year to participate in its 9052 per cent, BHEL said in a presentation to the scholarship.

According to the model of participation, the challenge for government 67.72 percent of BHEL, followed by more than 9 percent and 1.4 percent LIC ICICI Prudential Life Insurance. The remaining shares held by FIIs and the public.

Bhel shares changed hands at Rs 2,057.70 during trading on stock exchanges today.

BHEL officials had no comment on the developmet. BHEL announces highest ever sales Rs 43.451 million rupees in 2010-11, registering a growth of 27 percent over the previous year. According to the publication of provisional figures for the company, profit before tax increased by 37 percent to Rs 9.016 million rupees during the year.

The net profit was Rs 6,021 crore, a growth of 40 percent over the previous year. Bhel secured orders for Rs 60 crore to 507 in 2010-11, and is similar to the current portfolio.

Portfolio continues to be impressive despite numerous energy projects are delayed due to delays in the allocation of coal block, company officials said recently.

In the energy sector, the Company bags orders worth Rs 46.393 crore in 2010-11, including NTPC, Bajaj Hindustan, Jaiprakash Power Ventures and Raichur Power Company. The company is ready to reach a production capacity of 20,000 MW in March 2012 from its current level of 15,000 MW.

BHEL is in talks with several governments, including Orissa, West Bengal and Tripura, joint ventures with entities in the respective states. Has begun joint production of electricity utilities in the State of Karnataka and Maharashtra, among others.