BHEL posts biggest intra-day rally in 10 yrs on govt stake sale plan report

The stake in BHEL may be pared in tranches to 26 per cent from 63.17 per cent now.

Shares of Bharat Heavy Electricals (BHEL) surged 27 per cent to Rs 56.45 on the National Stock Exchange (NSE) in the intra-day deals on Friday amid reports the government may look to reduce stake in the company..

The stock recorded its sharpest intra-day rally in more than a decade. Earlier, on May 18, 2009, it zoomed 29 per cent in the intra-day deal on the BSE.

According to business chnanel CNBC Awaaz, the government may consider bringing down its stake in state-owned BHEL and National Mineral Development Corporation (NMDC).

The stake in BHEL may be pared in