Bharat Heavy Electricals rose 5.68% to Rs 83.70 at 14:27 IST on BSE after net profit surged 112.09% to Rs 457.17 crore on 1.29% decline in total income to Rs 10341.58 crore in Q4 March 2018 over Q4 March 2017.
The result was announced during trading hours today, 29 May 2018.Meanwhile, the S&P BSE Sensex was down 159.78 points, or 0.45% to 35,005.70.
On the BSE, 43.46 lakh shares were traded in the counter so far compared with average daily volumes of 4.99 lakh shares in the past two weeks. The stock had hit a high of Rs 86.80 and a low of Rs 79.55 so far during the day. The stock hit a 52-week high of Rs 108 on 23 January 2018. The stock hit a 52-week low of Rs 73.95 on 24 May 2018.
Bharat Heavy Electricals (Bhel) said in a statement that prudent strategies of garnering higher market share in a shrunken and highly competitive business environment enabled Bhel to book orders worth Rs 40932 crore in FY 2017-2018. Significantly, this is a quantum jump of 74% over FY 2016-2017. The orders comprise of Rs 33342 crore in the power segment and Rs 7590 crore in the industry and overseas segments combined. Significantly, Bhel has maintained its leadership position with 100% market share in the conventional thermal power equipment business. With this, Bhel has ended the year with a total order book of over Rs 118000 crore-highest in last five years.
Bhel is an integrated power plant equipment manufacturer and one of the largest engineering and manufacturing companies of its kind in India.
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