BHEL falls for second consecutive session, tanks 7% in 5 days; brokerages see up to 40% downside

BHEL stock has yielded a negative return of around 6.54 per cent in the past 5 days.

The state-owned engineering firm reported a Rs 12.10 crore consolidated net profit in the September 2022 quarter. Photo credit: PTI

BHEL Share Price Target, BHEL Share Price NSE, BHEL Share Price Today: Shares price of Bharat Heavy Electricals Ltd (NSE: BHEL) dipped for the second consecutive day on Tuesday as investors remain wary of poor second-quarter results. The stock lost around 1 per cent in the early trade and was trading at 70.60 a piece at 9:50 am. The counter had closed at Rs 71.40 in the previous session.

Meanwhile, several brokerages have revised the target price of the counter.

While Morgan Stanley maintains 'underweight' rating and has set a target of Rs 34, Jefferies has tagged an 'underperform rating', with a target price of Rs 40.

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On the other hand, Citi and Nomura have raised targets to Rs 48 and Rs 79 from Rs 40 and Rs 65 respectively.

BHEL stock has yielded a negative return of around 6.54 per cent in the past 5 days. However, it has given a positive return of 16.56 per cent so far this year. The stock's 52-week range is Rs 77.45 - Rs 41.40.

Earlier on Friday, the state-owned engineering firm reported a Rs 12.10 crore consolidated net profit in the September 2022 quarter on higher revenues.

The company had posted a consolidated net loss of Rs 46.58 crore in the quarter that ended September 30, a BSE filing showed. Its total income rose to Rs 5,418.74 crore in the quarter from Rs 5,197.25 crore a year ago.

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