Bhel drops 11.75% in two days

Bharat Heavy Electricals lost 4.06% to Rs 166.70 at 10:18 IST on BSE, with the stock extending Friday's 8.02% slump.

Meanwhile, the S&P BSE Sensex was up 53.43 points or 0.27% at 20,203.28.

On BSE, 5.19 lakh shares were traded in the counter as against average daily volume of 3.89 lakh shares in the past one quarter.

The stock hit a high of Rs 173.50 and a low of Rs 166.20 so far during the day. The stock had hit a 52-week low of Rs 162.10 on 27 June 2013. The stock had hit a 52-week high of Rs 272.45 on 5 October 2012.

The stock had underperformed the market over the past one month till 19 July 2013, declining 3.63% compared with the Sensex's 4.7% rise. The scrip had also underperformed the market in past one quarter, falling 6.44% as against Sensex's 5.96% gain.

The large-cap state-run power equipment major has equity capital of Rs 489.52 crore. Face value per share is Rs 2.

Shares of Bharat Heavy Electricals (Bhel) declined 11.75% in two trading sessions from a recent high of Rs 188.90 on 18 July 2013. The stock dropped 8.02% on Rs 173.75 on Friday, 19 July 2013 on high volume of 15.74 lakh shares. Shares were weighed by worries new order flows will be hit adversely in a slowing economy.

Bhel's net profit fell 4.2% to Rs 3237.54 crore on 2.2% decline in net sales to Rs 18850.16 crore in Q4 March 2013 over Q4 March 2012.

Bhel is the largest engineering and manufacturing enterprise in India in the energy related/infrastructure sector. The company caters to the core sectors including power, transmission, industry, transportation, renewable energy, oil & gas and defence.

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