BHEL down ahead of Q2 earnings on Wed

Profit taking was seen after recent gains ahead of its Q2 earnings

Shares of BHEL were down over 1% at Rs 143 on profit taking after recent gains ahead of its second quarter earnings scheduled for release on Wednesday.

Meanwhile, analysts are concerned over decline in order flows especially from thermal power generators with most of them stalled due to want of fuel.

"In the Capital Goods/Infra sectors, we expect revenues to remain weak, especially in the power generation equipment segment, where we see a sharp decline for BHEL (-17% YoY)," Religare Institutional Research said in a preview note.

It may be recalled that the PSU engineering major had reported nearly 50% decline in net profit and 24% drop in sales during the first quarter ended June 30, 2013 compared with the same quarter last fiscal.

Over 6.4 million shares were traded on both the stock exchanges so far.