Bhel tanks after announcing Q2 results

Bharat Heavy Electricals lost 5.26% to Rs 93.70 at 15:14 IST on BSE, with the stock extending intraday slide after the company announced Q2 September 2017 earnings.

The result was announced during market hours today, 7 November 2017.

Meanwhile, the S&P BSE Sensex was down 355.36 points or 1.05% at 33,375.83.

On the BSE, 43.51 lakh shares were traded on the counter so far as against average daily volumes of 7.66 lakh shares in the past one quarter. The stock had hit a high of Rs 100.70 and a low of Rs 92.25 so far during the day. The stock had hit a 52-week high of Rs 121.77 on 25 April 2017 and a 52-week low of Rs 77.43 on 27 December 2016.

The stock had outperformed the market over the past one month till 6 November 2017, advancing 16.49% compared with the Sensex's 6.03% rise. The stock had also outperformed the market over the past one quarter, gaining 7.82% as against the Sensex's 4.35% rise. The scrip had, however, underperformed the market over the past one year, advancing 9.97% as against the Sensex's 23.67% rise.

The large-cap company has equity capital of Rs 734.28 crore. Face value per share is Rs 2.

Bharat Heavy Electricals' (Bhel) net profit rose 5.88% to Rs 115.42 crore on 5.83% decline in net sales to Rs 6168.36 crore in Q2 September 2017 over Q2 September 2016.

Bhel is an integrated power plant equipment manufacturer and one of the largest engineering and manufacturing companies of its kind in India engaged in the design, engineering, manufacture, construction, testing, commissioning and servicing of a wide range of products and services for core sectors of the economy. The Government of India holds 63.06% stake in Bhel (as per the shareholding pattern as on 30 September 2017).

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