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BHEL shares climbed 5.78 per cent to hit a high of Rs 204.65 on BSE. At 9.25 am, shares of NLC India were up 1.56 per cent at R 257.30. Shares of Larsen & Toubro Ltd (L&T) were flat at Rs 3,525.05.
BHEL share price: The state-run power generation equipment manufacturer reported a net loss of Rs 238 crore in the September quarter of 2023-24 (Q2 FY24) against a profit of Rs 12 crore in the year-ago period. BHEL's revenue slipped 1.5 per cent to Rs 5,125.3 crore in the September quarter against Rs 5,202.6 crore in the corresponding period last year.
BHEL Q2: Kotak Institutional Equities expects the PSU firm to report a loss Rs 271.40 crore against a loss of Rs 351.70 crore in the June and a profit of Rs 10.3 crore in the same quarter last year.
In August, Prime Minister Narendra Modi said in a jest that stock market investors should invest in PSUs which were criticised by the Opposition in the past. PM's light-hearted advise on the floor of the Lok Sabha led to PSU stocks surging over the last one month as shares of some PSUs seem to have caught the eyes of investors. Watch this Visual Story to see PSU stocks that have surged up to 85% in once month since PM's remark.
BHEL share price: Analysts largely remained mixed on the counter. The stock may see a target of Rs 120 in the near term, an analyst said. Support could be seen at Rs 107 level. That said, if it settles below the said support level, then it may slip more, one of them suggested.