India's BHEL drops after government unveils stake sale plan at a discount

Bharat Heavy Electricals

11/02/2026 04:43

** Shares of state-run Bharat Heavy Electricals Ltd BHEL.NS decline 5.4% to 261 rupees

** The Indian government announces a proposal to sell up to 104.5 million shares in the heavy electrical equipment maker  at a floor price of 254 rupees per share

** Floor price is at a 8% discount to BHEL's Tuesday close of 276.10 rupees per share

** Government owned 63.17% stake in co as of Dec-end - exchange data

** Stock, on an avg, rated "Hold" by 20 analysts covering it, median TP 250 rupees - data compiled by LSEG

** YTD stock down 9%

(Reporting by Hritam Mukherjee in Bengaluru)

((Hritam.Mukherjee@thomsonreuters.com;))