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BHEL posts biggest intra-day rally in 10 yrs on govt stake sale plan report

The stake in BHEL may be pared in tranches to 26 per cent from 63.17 per cent now.

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SI Reporter Mumbai
Shares of Bharat Heavy Electricals (BHEL) surged 27 per cent to Rs 56.45 on the National Stock Exchange (NSE) in the intra-day deals on Friday amid reports the government may look to reduce stake in the company..

The stock recorded its sharpest intra-day rally in more than a decade. Earlier, on May 18, 2009, it zoomed 29 per cent in the intra-day deal on the BSE.

According to business chnanel CNBC Awaaz, the government may consider bringing down its stake in state-owned BHEL and National Mineral Development Corporation (NMDC).

The stake in BHEL may be pared in