India's BHEL extends gains to 10% after posting Q2 profit vs yr-ago loss

Power Grid of India

28/10/2024 09:26

** Shares of Bharat Heavy Electricals Ltd (BHEL)  BHEL.NS 
surge an exchange-allowed maximum of 10% to 238.5 rupees
    ** State-owned power and industrial equipment maker reports 
Q2 consol net profit of 1.06 bln rupees ($12.6 mln) vs year-ago
loss of 630.1 mln rupees
    ** Stock was up 2% ahead of results 
    ** Analysts' avg rating on BHEL is "hold", same as for peers
Power Grid Corp  PGRD.NS  and Tata Power  TTPW.NS  - LSEG data 
    ** BHEL has gained ~23% YTD, while PGRD, TTPW have risen
~35% and ~29%, respectively
 
 ($1 = 84.0725 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))