BHEL Share Price Target: Shares of Bharat Heavy Electricals Limited (BHEL) have been in a bullish trend for the last several sessions. BHEL shares are currently at ₹285 per share. Last Friday there was a rise of up to 3%. The company has recently received a big order from Adani Group.
Adani placed order
Let us tell you that public sector BHEL has received an order worth Rs 3,500 crore from Adani Power Limited to set up a thermal power plant in Raipur, Chhattisgarh. BHEL said in a filing to the stock market, “The company has signed the order agreement on June 5, for the supply and installation of equipment (boilers, turbines, generators) for two power projects of 800-800 MW based on critical technology. And includes supervision of operations.” The company said the order is worth more than Rs 3,500 crore. Goods and Services Tax (GST) will be levied separately. BHEL said the boilers and turbine generators will be manufactured at its factories in Trichy and Haridwar.
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What is the expert’s opinion?
According to stock market analysts, BHEL shares are seeing a rise due to the turmoil in the market due to continuous orders. This has increased buying interest in PSU stocks. He estimates that it may reach ₹315 to ₹320 in the short term.
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march quarter results
Public sector company Bharat Heavy Electrical Limited recently reported that its consolidated net profit fell by more than 25 percent to Rs 489.6 crore in the fourth quarter of the last financial year. In the same quarter of the last financial year, the company had earned a consolidated net profit of Rs 658.02 crore. The company’s total expenses increased to Rs 7,794.11 crore during the quarter under review, from Rs 7,411.64 crore in the same period a year ago.
During this period, the total income of the company increased marginally from Rs 8,338.61 crore to Rs 8,416.84 crore on an annual basis. BHEL said its board has recommended a final dividend at the rate of 12.50 per cent or 25 paise on each share of face value Rs 2 for financial year 2023-24. The consolidated net profit of the company declined to Rs 282.22 crore in the financial year 2023-24, which was Rs 654.12 crore in the previous financial year. During this period, total income increased marginally from Rs 23,853.57 crore to Rs 24,439.05 crore.
