Bharat Heavy Electricals rose 1.35% to Rs 225.65 at 13:15 IST on BSE after the company said it has surpassed the capacity addition target, set by the Government for utility projects for 2014-15 by 19%.
The announcement was made during market hours today, 13 May 2015.
Meanwhile, the S&P BSE Sensex was up 136.20 points or 0.51% at 27,013.68.
On BSE, so far 2.01 lakh shares were traded in the counter as against average daily volume of 4.34 lakh shares in the past one quarter.
The stock was volatile. The stock rose as much as 1.99% at the day's high of Rs 227.10 so far during the day. The stock fell as much as 0.2% at the day's low of Rs 222.20 so far during the day. The stock had hit a 52-week high of Rs 299.50 on 4 February 2015. The stock had hit a 52-week low of Rs 194.50 on 12 May 2014.
The stock had outperformed the market over the past one month till 12 May 2015, sliding 5.19% compared with Sensex's 6.93% fall. The scrip had, however, underperformed the market in past one quarter, declining 16.89% as against Sensex's 6.69% fall.
The large-cap company has equity capital of Rs 489.52 crore. Face value per share is Rs 2.
Bharat Heavy Electricals (Bhel) said that accelerating project execution momentum as part of six point agenda for dynamic growth, the company has surpassed the capacity addition target, set by the Government for utility projects for 2014-15 by 19%. Bhel has commissioned 8,230 megawatts (MW) of utility sets against the target of 6,914 MW for 2014-15.
Bhel's net profit fell 69.4% to Rs 212.60 crore on 28.2% decline in net sales to Rs 6078.37 crore in Q3 December 2014 over Q3 December 2013. The company unveils Q4 March 2015 results on 27 May 2015.
Bhel is the largest engineering and manufacturing enterprise in India in the energy related/infrastructure sector. The company caters to the core sectors including power, transmission, industry, transportation, renewable energy, oil & gas and defence.
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