Bhel slides after bulk deal

Bharat Heavy Electricals fell 1.39% to Rs 116.90 at 14:24 IST on BSE after a bulk deal of 16.27 lakh shares was executed on the scrip at Rs 117.25 per share at 13:29 IST on BSE today, 24 May 2016.

Meanwhile, the S&P BSE Sensex was up 23.42 points or 0.09% at 25,253.78

Bulk deal boosted volume on the scrip. On BSE, so far 19.24 lakh shares were traded in the counter as against average daily volume of 11 lakh shares in the past one quarter. The stock hit a high of Rs 118.75 and a low of Rs 115.75 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.

As part of the semi-annual reconstitution of S&P BSE Indices, the Bombay Stock Exchange (BSE) in a circular dated Friday, 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 declares its Q4 March 2016 result on 27 May 2016. The company posted net loss of Rs 1101.99 crore in Q3 December 2015, as compared with net profit of Rs 212.60 crore in Q3 December 2014. Net sales fell 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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