Bhel recovers on bargain hunting

Bharat Heavy Electricals rose 3.35% to Rs 141.95 at 9:52 IST on BSE, with the stock recovering on bargain hunting after 2-day 8.67% slide.

Meanwhile, the S&P BSE Sensex was up 42.55 points or 0.22% at 19,422.32.

On BSE, 2.40 lakh shares were traded in the counter as against average daily volume of 12.17 lakh shares in the past one quarter.

The stock hit a high of Rs 141.95 and low of Rs 139 so far during the day. The stock had hit a 52-week high of Rs 272.45 on 5 October 2012. The stock had hit a 52-week low of Rs 100.35 on 20 August 2013.

The stock had outperformed the market over the past one month till 30 September 2013, surging 15.66% compared with the Sensex's 4.08% rise. The scrip had, however, underperformed the market in the past one quarter, sliding 21.2% as against Sensex's 0.08% fall.

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) had declined 8.67% in two trading sessions to settle at Rs 137.35 on Monday, 30 September 2013, from a recent high of Rs 150.40 on 26 September 2013.

Bhel's net profit fell 49.5% to Rs 465.43 crore on 23.7% decline in net sales to Rs 6352.55 crore in Q1 June 2013 over Q1 June 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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