Bhel slides after 4-day 21.9% rally

Bharat Heavy Electricals lost 4.32% to Rs 118.45 at 11:59 IST on BSE, with the stock sliding on profit booking after 4-day 21.97% rally.

Meanwhile, the S&P BSE Sensex was down 492.39 points or 2.65% at 18,065.74.

On BSE, 11.48 lakh shares were traded in the counter as against average daily volume of 7.46 lakh shares in the past one quarter.

The stock hit a high of Rs 126.90 and a low of Rs 117.65 so far during the day. The stock had hit a 52-week low of Rs 100.35 on 20 August 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 26 August 2013, declining 22.04% compared with the Sensex's 6.03% fall. The scrip had also underperformed the market in past one quarter, declining 35.81% as against Sensex's 5.82% 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 rallied 21.97% in four trading sessions to settle at Rs 123.80 on Monday, 26 August 2013, from a recent low of Rs 101.50 on 20 August 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 had an outstanding order book position of about Rs 108600 crore as on 30 June 2013, lower than Rs 115160 crore as on 31 March 2013 and Rs 122300 crore as on 30 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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