BHEL slumps 10% after Q4 net profit down 57% to Rs 215.6 cr
Bharat Heavy Electricals Limited (BHEL) slumped over 10.5% on the BSE at 1050 hours as the company posted a 57% drop in its net profit for the fourth quarter ended on March 2017.The stock hit a lower circuit of Rs 138 per share.
The PSU posted a profit of Rs 216 crore for the quarter, compared with Rs 506 crore posted for the corresponding period last year.
BHEL’s standalone revenue for the quarter stood at Rs 9,688 crore, indicating a 7.2 per cent decline year-on-year. Operational revenue of the company fell 2.4 per cent to Rs 101.58.
The company in its filling to the exchanges on Monday said that the board of directors have recommended final dividend at 39% (Rs. 0.78 per share).
Stock view :-
Bharat Heavy Electricals Ltd is currently trading at Rs 139, down by Rs 14.3 or 9.33% from its previous closing of Rs 153.3 on the BSE.
The scrip opened at Rs 146.7 and has touched a high and low of Rs 146.9 and Rs 133.65 respectively. So far 21501876(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 37521.71 crore.
The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 182.65 on 25-Apr-2017 and a 52 week low of Rs 113.9 on 24-Jun-2016. Last one week high and low of the scrip stood at Rs 161.95 and Rs 148.9 respectively.
The promoters holding in the company stood at 63.06 % while Institutions and Non-Institutions held 32.32 % and 4.62 % respectively.
The stock is currently trading below its 50 DMA.
Bharat Heavy Electricals Ltd :-
BSE 138.70 [14.60] ([9.52]%)
NSE 138.55 [14.80] ([9.65]%)
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