India's Bharat Heavy Electricals climbs on order win

NLC India

15/01/2024 04:27

** Shares of Bharat Heavy Electricals  BHEL.NS  up 2.4%
    ** The state-owned power generation equipment maker received letter of award
for 3x800 MW NLC Talabira Thermal Power Project from NLC India  NLCI.NS  
    ** BHEL rose for the third straight qtr in the Dec-qtr
    ** Share price well above its 200-day simple moving average since August
2022
    ** Avg of all analysts covering the stock have rated BHEL "sell" per - LSEG
data; median PT of 78 rupees is below current market price
    ** Stock rose ~144% last year, outperforming most of its peers like Cummins
CUMM.NS (+42%) and Siemens SIEM.NS (+41%); so far this year, BHEL is up 3.5% 

 (Reporting by Yagnoseni Das in Bengaluru)
 ((Yagnoseni.Das@thomsonreuters.com; +91 6001289066;))