Bhel drops after weak Q4 outcome

Bharat Heavy Electricals lost 2.73% to Rs 124.70 at 09:16 IST on BSE after net profit fell 59.52% to Rs 359.58 crore on 18.36% decline in total income to Rs 10418.64 crore in Q4 March 2016 over Q4 March 2015.

The result was announced after trading hours on Friday, 27 May 2016.

Meanwhile, the S&P BSE Sensex was up 84.69 points or 0.32% at 26,738.29

On BSE, so far 29,340 shares were traded in the counter as against average daily volume of 10.99 lakh shares in the past one quarter. The stock hit a high of Rs 124 and a low of Rs 121.70 so far during the day. The stock hit a 52-week high of Rs 289.85 on 21 July 2015. The stock hit a 52-week low of Rs 90.40 on 29 February 2016.

The large-cap company has equity capital of Rs 489.52 crore. Face value per share is Rs 2.

Bharat Heavy Electricals (Bhel)'s order backlog stood at about Rs 1.10 lakh crore as on 31 March 2016. The company removed orders amounting Rs 3783 crore from the order book in Q4 March 2016. It removed orders amounting Rs 7429 crore from the order book in the year ended 31 March 2016, which are not likely to commence.

As part of the semi-annual reconstitution of S&P BSE Indices, the Bombay Stock Exchange (BSE) in a circular dated 20 May 2016, announced that Power Grid Corporation of India (PGCIL) will replace Bhel from the 30-share Sensex with effect from 20 June 2016.

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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