Power stock to buy: The share of the state-owned corporation Bharat Heavy Electricals Ltd (NSE: BHEL) is under scrutiny. Market analysts are wary about this particular stock.
A brokerage firm has maintained an’sell’ rating for BHEL with a target of 72 rupees.
On Friday, the stock hit an intraday high that was 272 rupees. But, in the end, there was profit booking within it, and it fell by 3.49%.
According to prices, this stock of power could drop by around 75%. We can inform you that this business has seen its profits increase by 100% over one year.
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10 Analysts Have Suggested Sell
However, some market analysts believe that if a stock is falling further, bets may be bets on it since the stock is expected to rebound.
Bharat Heavy Electricals Ltd shares are currently 20 % below the most recent highest of 335 rupees.
Let us inform you that of the 17 analysts who cover BHEL 10 have recommended selling the stock.
Recently, Received A Contract From Adani
We can tell you that in the last few days, Bharat Heavy Electricals Ltd has been awarded a contract worth more than 11,000 crore rupees to construct three projects of power. GST does not count in the sum.
Bharat Heavy Electricals Ltd informed BSE that on the 25th of August, BHEL signed a contract with Adani Power and its subsidiary company (Mahaan Energean Limited).
They have signed the contract for the installation and supply of equipment (boiler generator, turbine, boiler) in three energy projects as well as the procedures for commissioning it.
According to company data, The worth of the three contracts is greater than 11,000 crore rupees which does not include GST.
Quick Fact
| Company name | Bharat Heavy Electricals |
|---|---|
| Current status of share price | Down by 2.2% |
| Analysts recommending sell | 10 out of 17 |
| Possible drop from current price | Around 75% |
| Profit increase over 1 year | 100% |
| Contract value | ₹11,000 crore |
| Contract partners | Adani Power and Mahaan Energean Limited |
| Projects under contract | 3 power projects |
| Equipment supplied | Boiler, turbine, generator |
| Date of contract announcement | 25th August |
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