BHEL hits a new 52-week low
By
Research Desk
about 8 years ago
BHEL hit a new 52-week low today at Rs.104.05 on the back of its very poor performance for Q3FY16.
It posted a net loss of Rs.1102 crore v/s net profit of Rs.213 crore in previous Q3. The cause for this loss – lower revenue, it was down 14% (YoY) at Rs.5325 crore and total expenses during the quarter rose 17% at Rs.7190 crore. The costs are 35% higher than the revenue earned, so naturally, the company would be losses.
Its outstanding order book at the end of the quarter was at Rs.1,09,201 crore. This excludes orders worth Rs 36,500 crore for projects which are not likely to commence. Following these poor numbers, many brokerage houses and analysts have cut the target price for the stock.