Bhel slumps after poor Q1 results

Bharat Heavy Electricals tumbled 8.42% to Rs 258.45 at 14:18 IST on BSE after net profit dropped 82.48% to Rs 33.89 crore on 11.78% decline in total income to Rs 4854.07 crore in Q1 June 2015 over Q1 June 2014.

The Q1 result was announced during market hours today, 7 August 2015.

Meanwhile, the S&P BSE Sensex was down 60.42 points or 0.21% at 28,237.71.

The stock tumbled on heavy volumes. On BSE, so far 15.66 lakh shares were traded in the counter as against average daily volume of 5.06 lakh shares in the past one quarter.

The stock was volatile. The stock tumbled as much as 10.4% at the day's low of Rs 252.85 so far during the day. The stock rose as much as 0.63% at the day's high of Rs 284 so far during the day. The stock had hit a 52-week low of Rs 195.10 on 7 October 2014. The stock had hit a 52-week high of Rs 299.50 on 4 February 2015.

The stock had outperformed the market over the past one month till 6 August 2015, surging 8.79% compared with Sensex's 0.32% rise. The scrip had also outperformed the market in past one quarter, jumping 22.94% as against Sensex's 5.92% rise.

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

Bharat Heavy Electricals (Bhel) had an outstanding order book position of about Rs 1.16 lakh crore as on 30 June 2015.

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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