Shares of power equipment maker BHEL today soared nearly 16 per cent, adding Rs 5,250.65 crore to its market valuation, after the company reported a 54.21 per cent jump in net profit for the April-June quarter.
The stock surged 15.50 per cent to end at Rs 159.80 on the BSE. Intra-day, the shares advanced by 16.66 per cent to Rs 161.40.
On NSE, the company's stock jumped 15.56 per cent to close at Rs 159.65.
The scrip was the biggest gainer among the 50 Nifty components.
The company's market valuation rose by Rs 5,250.65 crore to Rs 39,112.65 crore.
On the volume front, 84.36 lakh shares of the company were traded on the BSE and over 7 crore units changed hands on the NSE during the day.
State-run power equipment maker BHEL reported a 54.21 per cent jump in net profit at Rs 77.77 crore in April-June period mainly because of positive topline (turnover) growth after three-and-a-half years.
The company posted a net profit of Rs 50.43 crore in the June quarter of last fiscal, BHEL said in a regulatory filing.
Total income increased from Rs 4,858.95 crore to Rs 5,871.78 crore for the quarter ended June 30.
BHEL's turnover has shown a double-digit growth of 29 per cent compared to the corresponding period in the previous year.
The company has beaten street expectations by reversing the trend of negative topline growth prevailing for the last 14 straight quarters.
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