BHEL Share Price: Fluctuations and Profit Booking
BHEL i.e. Bharat Heavy Electricals Limited, a state-owned company, has earned multibagger returns to its investors in the past year. The stock was witnessing huge fluctuations in Tuesday’s trading session. Today, however, profit booking is seen in the stock.
Profit Recovery: Shares of BHEL Witnessing a Dip
Shares of BHEL were trading at Rs 143.55, up 3 percent in yesterday’s trading session. Today, however, the stock is witnessing huge profit recovery. Today, Wednesday, September 6, 2023, shares of Bharat Heavy Electricals Ltd. are trading at Rs 135.55, down 2.06 percent.
BHEL Wins Order for India’s Largest Hydroelectric Project
Bharat Heavy Electricals Limited Company said in a statement on Monday that the company has won the order for India’s largest hydroelectric project of 2,880 MW capacity. BHEL Company has been awarded an order by NHPC to set up a 12×240 MW power generation plant at Roing in Dibang Valley of Arunachal Pradesh. The equipment required for this project will be manufactured at manufacturing centers in Bhopal, Bengaluru, Jhansi, and Rudrapur. And with the help of the unit in Kolkata, the work will be started at the actual location.
Experts Anticipate Long Duration for Hydroelectric Project
Brokerage Prabhudas Lilladhar’s experts said in their report, “We are waiting for the detailed order details to be announced. Experts have expressed the possibility that the duration of this project will be 9-10 years. An increase in thermal power orders and Bharat Heavy Electricals Limited’s increased focus on segments such as railways, defence, nuclear, hydro could see an improvement in the company’s long-term performance.
Analysts Recommend Buying BHEL Shares
Analysts at JM Financial Firm have given a ‘Buy’ rating on the stock of Bharat Heavy Electricals Limited and advised the stock to be Buy with a target price of Rs 165. Shares of Bharat Heavy Electricals Ltd. have earned 36 percent returns to their investors in the last eight trading sessions. This stock has increased by 75.36 percent in the year 2023.
Government Holds Majority Share Capital in BHEL
The share price of this company has increased by 132 percent in the last one year. And the central government holds the majority share capital of this company. As of June 2023, the Government of India held 63.17 percent ownership in Bharat Heavy Electricals Limited Company.
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