BHEL jumps on healthy provisional FY11 nos

Bharat Heavy Electricals Limited (BHEL) has moved up 3% to Rs 2,172 after the company reported 40% growth in its provisional net profit at Rs  6,021 crore for the financial year 2010-11 compared with Rs 4,311 crore in the previous year.

Total turnover grew 27% to Rs 43,451 crore (Rs 34,154 crore) on y-o-y basis, the state-owned capital goods company said in its tentative financial performance.

The company's economic value added (EVA) was up 41% at Rs 3,753 crore for FY11 from Rs 2,670 crore achieved during the previous fiscal. The company has strong orders inflow of Rs 60,507 crore in hand compared with Rs 59,037 crore a year earlier.

The stock opened at Rs 2,120 and hit a high of Rs 2,190 after the announcement of tentative results. Total 696,955 shares have changed hands on the counter so far on both the exchanges.