Bhel lost 1.65% to Rs 215.20 at 14:07 IST on BSE, with the stock declining on profit booking after recent upmove.
Meanwhile, the BSE Sensex was down 80.12 points, or 0.34%, to 23,791.11
On BSE, so far 7.02 lakh shares were traded in the counter, compared with an average volume of 25.13 lakh shares in the past one quarter.
The stock hit a high of Rs 221.40 and a low of Rs 211.50 so far during the day. The stock hit a 52-week high of Rs 229.85 on Tuesday, 13 May 2014. The stock hit a 52-week low of Rs 100.35 on 20 August 2013.
The stock had outperformed the market over the past one month till 13 May 2014, rising 18.24% compared with 5.49% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 44.18% as against Sensex's 18.21% rise.
The large-cap company has an equity capital of Rs 489.52 crore. Face value per share is Rs 2.
Shares of Bhel were on a roll recently, advancing 22.57% to Rs 218.80 on 13 May 2014 from recent low of Rs 178.50 on 7 May 2014. The stock had surged 10.25% to Rs 218.80 in a single trading session on Tuesday, 13 May 2014, after the company said it has achieved another landmark by successfully commissioning a 600 megawatts (MW) thermal unit in Odisha. The unit was commissioned at Jindal India Thermal Power (JITPL)'s upcoming 2x600 MW thermal power project located at Derang in Angul district of Odisha. Valued at Rs 2600 crore, the order for the 2x600 MW greenfield power project, was placed on Bhel by JITPL reflecting the customer's confidence in the company's technological excellence and capabilities in executing projects of this magnitude, Bhel said in a statement.
Bhel's scope of work in the contract envisaged design, engineering, manufacture, supply, erection and commissioning of Steam Turbines, Generators and Boilers, along with associated Auxiliaries and Electricals, besides state-of-the-art Controls & Instrumentation (C&I) and Electrostatic Precipitators (ESPs). Work on Unit 2 is progressing in full swing and the unit is also expected to be commissioned during the current year, Bhel said.
Bhel will announce Q4 results on 28 May 2014. The company's net profit fell 41.2% to Rs 694.81 crore on 15.7% decline in net sales to Rs 8462.38 crore in Q3 December 2013 over Q3 December 2012.
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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