Foreign brokerage upgrade boosts Bhel

Bharat Heavy Electricals rose 4.04% to Rs 118.35 at 11:58 IST on BSE on media reports that a foreign brokerage has upgraded the stock to buy from sell citing robust order pipeline.

Meanwhile, the S&P BSE Sensex was down 65.87 points or 0.26% at 25,275.99.

On BSE, so far 10.93 lakh shares were traded in the counter as against average daily volume of 10.34 lakh shares in the past one quarter. The stock hit a high of Rs 120.60 and a low of Rs 113.50 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 stock had outperformed the market over the past one month till 31 March 2016, surging 24.86% compared with Sensex's 10.17% rise. The scrip had, however, underperformed the market in past one quarter, sliding 32.79% as against Sensex's 2.97% fall.

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

Bharat Heavy Electricals (Bhel) is scheduled to announce flash results for the year ended 31 March 2016 (FY 2016) on 7 April 2016.

Bhel reported net loss of Rs 1101.99 crore in Q3 December 2015 compared with net profit of Rs 212.60 crore in Q3 December 2014. Net sales declined 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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