Bhel recovers from 52-week low on bargain hunting

Bharat Heavy Electricals rose 2.05% to Rs 139.30 at 12:03 IST on BSE on bargain hunting after declining 9.3% in preceding three trading days to Rs 136.50 on 15 January 2016 from a recent high of Rs 150.50 on 12 January 2016.

Meanwhile, the BSE Sensex was down 94.99 points, or 0.39%, to 24,360.05

On BSE, so far 3.05 lakh shares were traded in the counter, compared with an average volume of 4.86 lakh shares in the past one quarter. The stock hit a low of Rs 131.90 in intraday trade so far, which is 52-week low for the counter. The stock hit high of Rs 140.45 so far during the day. The stock hit a 52-week high of Rs 299.50 on 4 February 2015. The stock had underperformed the market over the past one month till 15 January 2016, sliding 17.82% compared with Sensex's 3.42% fall. The scrip had also underperformed the market in past one quarter, declining 35.52% as against Sensex's 9.46% 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 204.90 crore in Q2 September 2015 compared with net profit of Rs 124.84 crore in Q2 September 2014. Net sales declined 3.2% to Rs 5834.95 crore in Q2 September 2015 over Q2 September 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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