India's Bharat Heavy Electricals hits over 8-year high

Cummins India

28/12/2023 08:22

** Shares of Bharat Heavy Electricals  BHEL.NS  up as much as 5.5%, their
highest since August 2015
    ** Reuters could not immediately ascertain a reason for the stock move
    ** Stock set for biggest yearly rise since its listing, if trend holds
    ** Share price well above its 200-day simple moving average since August
2022
    ** Avg of all analysts covering the stock have rated BHEL "sell" ; median PT
is 67 rupees - LSEG data
    ** More than 6 bln shares traded so far this year, least active in last 3
years
    ** Including session's moves BHEL is up ~140% this year, outperforming most
of its peers like Thermax  THMX.NS  (+58%), Cummins  CUMM.NS  (+42%) and Siemens
 SIEM.NS  (+41%) 

 (Reporting by Yagnoseni Das in Bengaluru)
 ((Yagnoseni.Das@thomsonreuters.com;))