Bhel drops on profit booking

Bharat Heavy Electricals fell 1.4% to Rs 105.75 at 15:12 IST on BSE on profit booking after the stock gained 17.72% in four trading days to settle at Rs 107.25 on 4 March 2016, from its close of Rs 91.10 on 29 February 2016.

Meanwhile, the BSE Sensex was down 18.41 points, or 0.07%, to 24,628.07

On BSE, so far 14.64 lakh shares were traded in the counter, compared with an average volume of 8.46 lakh shares in the past one quarter. The stock hit a high of Rs 111 and a low of Rs 104.85 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 stock had underperformed the market over the past one month till 4 March 2016, sliding 17.21% compared with Sensex's 1.27% gain. The scrip also underperformed the market in past one quarter, sliding 36.41% as against Sensex's 3.87% fall.

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

Bhel reported net loss of Rs 1101.99 crore in Q3 December 2015 compared with net profit of Rs 212.60 crore in Q3 December 2014. Net sales declined 14% to Rs 5230.13 crore in Q3 December 2015 over Q3 December 2014.

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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