Bharat Heavy Electricals Ltd up by 10.56 percent - Traders Corners | Espresso


Espresso shot of the day – Bharat Heavy Electricals Ltd up by 10.56 percent

May 03, 2021
Espresso shot of the day – Bharat Heavy Electricals Ltd up by 10.56 percent

BHARAT HEAVY ELECTRICALS LTD 53.40 (+10.56%) BSE – INE257A01026 | 3RD MAY 2021

One of the greatest challenges before the Government of India on attaining freedom in 1947 was to provide a strong base in infrastructure and capital goods for economic and industrial development. The Government under the leadership of Prime Minister, Pandit Jawaharlal Nehru realised that there should be a large manufacturing base and adequate technically qualified personnel for sustained economic growth. The country's planners recognised that adequate supply of electric power was a precondition for long-term industrial growth. This could be sustained only with a strong domestic power equipment industry. Accordingly, the Planning Commission recommended initiating steps towards setting up a factory for the manufacture of all types of heavy electrical equipment required for various projects. As a result, the Government of India signed an agreement on 17th November, 1955, with Associated Electrical Industries (AEI), UK, for the establishment of a factory at Bhopal complete in all respects for the manufacture of heavy electrical equipment in India. The company was registered as Heavy Electricals (India) Limited (HE(I)L) in the Public Sector under the Ministry of Industry and Commerce on 29th August, 1956. These three newly conceived projects were part of Heavy Electricals (India) Limited for which the work was initiated at Bhopal. All the initial preparatory work was carried out from Bhopal till November 1964. Government decided to create a separate corporation for setting-up and managing these three units. Thus Bharat Heavy Electricals Limited was born and formally incorporated on 13th November, 1964. Today India is on the cusp of higher economic growth. The new era will present new growth opportunities. However, the landscape of technology and competition is under transformation. BHEL too is transforming and has embarked upon a journey with a vision of “Creating BHEL of Tomorrow” – an organization that will be Responsive, Robust and Rising, to the needs of the customers, shareholders, employees and society.

Recent Drivers

  • On 25th April 2021, the state-run firm said - To help meet the acute shortage of medical oxygen in the country, Bharat Heavy Electricals Limited (Bhel) has started supplying medical oxygen to hospitals nears its plants in Bhopal and Haridwar.
  • On 16th April 2021, a senior official said - State-owned Bharat Heavy Electricals Limited (BHEL) would procure Rs 3,000 crores of products from small businesses annually as part of the government's efforts to encourage them.
  • On 30th March 2021, Bharat Heavy Electricals Limited (BHEL) bagged a major order for a Sulphur Recovery Unit from IOCL.
  • On 22nd March 2021, Bharat Heavy Electricals Limited (BHEL) said it has bagged its first overseas order for a grid- connected solar power project in Mauritius.
  • On 5th March 2021, Container Corporation of India Ltd. (Concor) said it plans to source its annual requirement of about 8,000 containers, which till now were being imported from China, solely from domestic manufacturers. Concor had already given a developmental order for 1,000 containers each to Bharat Heavy Electricals Limited (BHEL) and Braithwaite & Co. — both public sector undertakings.
  • Bharat Heavy Electricals Limited (BHEL) reported net sales at Rs 4,451.36 crores in December 2020.

(Sources: Moneycontrol, The Hindu Business Line, Business Standard, Livemint)

Technical Force*

  • S&P BSE 200 month till date gain up by 0.26%
  • Spurt in Volume by more than 2.75 times compare to previous vol. 3 months avg volume– 65,21,130
  • Quantity traded 76,82,611 Deliverable quantity 19,15,918 (24.94%)
  • Stock price has jumped more than 155% from one year low level – 20.90, 4 May 2020
  • Daily RSI(14) is near overbought territory today
  • 52 week high– 56.50 |  52 week low­­–  20.90

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Some Key Ratios (Source: BSE)

Market Cap: 18,594.22 crores

PE: -5.23

OPM%: -4.05

ROE%: -11.62

Promoters holding: 63.17

Prev. Close: 48.30

*Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.