BHEL Q1 results: Kotak Institutional Equities expects BHEL to report a widening of losses to Rs 217.60 crore for the quarter compared with a loss of Rs 191.90 crore in the year-ago quarter.
Loss for the quarter stood at Rs 343.89 crore for the June quarter compared with Rs 187.99 crore in the same quarter last year. BHEL had logged a profit of Rs 611 crore in the March quarter.
Nuvama Institutional Equities has upgraded BHEL to a buy recommendation due to limited competition and a near-term thermal capex revival. The brokerage increased the target price to ₹125. There are macroeconomic tailwinds that could lead to a potential thermal recovery.
BHEL has a strong order book and a gradual revival of thermal tendering. The order book stands at over Rs 91,000 crore, which is 4 times the revenues for the 2022-23 financial year.
BHEL share price target: The stock has an average price target of Rs 63, as per Trendlyne, which suggests a 32 per cent downside potential. Antique Stock Broking finds the stock Rs 110 worthy. Nuvama sees it at Rs 125.