Oman order pushes up BHEL

DALAL STREET SPIKES

Power equipment major Bharat Heavy Electricals Ltd (BHEL) was in the limelight on reports that the company has bagged an order worth Rs 80 crore from the Petroleum Development Oman for the supply of a gas compressor package.

The stock jumped up 2.19 per cent to Rs 488.45 on the BSE, while the overall breadth of the market was negative.

The BSE Sensex was down 1.44 per cent at close. From a recent low of Rs 375 touched in intra-day trades on May 17, 2004, BHEL has risen 30.25 per cent.

Analysts said the counter has attracted buying at lower levels as the company's order book is strong. More than 7.56 lakh shares were traded on the BSE.