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BHEL Earnings per Share May Treble On Order Flows

BHEL Earnings per Share May Treble On Order Flows

The stock of Bharat Heavy Electrical ( BHEL BSE 0.53 %) gained 27 per cent in a month following a spate of orders from state utilities. The company is expected to clock order growth of more than 45 per cent in the current fiscal based on the current momentum. This will start a new execution cycle and may treble earnings per share for the next fiscal.The company has bagged orders worth Rs 12,000 crore in the March quarter so far which includes contracts from the state electricity boards (SEBs) of Tamil Nadu and Telangana. The company is the lowest bidder in projects worth more than Rs 30,000 crore. It recently won the Maitree Power project of 1,320 MW worth Rs 10,500 crore, which is a joint venture of NTPCBSE 0.31 % and Bangladesh power development boards. The street estimates a conservative order inflow of Rs 35,000-40,000 crore for the next year due to the paucity of orders. If company is able to surpass the expectation, it may result in substantial earnings upgrades. Apart from the order growth, favourable valuation has prompted investors to take fresh exposure when the stock was briefly trading below Rs 100 in...
Shares of BHEL Rally 4.3% after CLSA Predicts Growth

Shares of BHEL Rally 4.3% after CLSA Predicts Growth

Shares of power equipment maker Bharat Heavy Electricals (BHEL) rallied 4.3% on Tuesday after CLSA, a brokerage firm, said the state-run company may report 40% growth in order inflows for the year ending March 2016 (FY16), while assigning an ‘outperform’ rating on the stock. The brokerage said power equipment orders are at five-year highs, and BHELBSE 0.26 % has swept order bids with 76% market share in boilers, and 89% in turbine tenders. The brokerage said BHEL has maintained its leadership position in power generation equipment market in fiscal year 2016, through winning 95% of orders for boilers and 81% for turbines, respectively. According to the brokerage, bid pricing for power equipment orders was mixed — BHEL’s pricing was stable for Telangana orders against last year, while Doosan bid was aggressive for 4GW boilers. BHEL shares ended at Rs 116.75, up Rs 4.80, or 4.29%, on Tuesday. The company had posted a loss of Rs 1,102 crore in October-December (Q3) quarter, against profit of Rs 212 crore a year ago. Revenues declined 14% to Rs 5,325 crore during the quarter, according to a filing with the...
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