In its latest research report, Nirmal Bang, an equity research firm said that BHEL can give good returns in the short term.

The report further stated that, if the counter is successful to breach Rs 2360 levels, then it will hit a target of Rs 2490.

The stock has strong support at Rs 2280.

Today (Oct 01), the shares of the company opened at Rs 2321 on the Bombay Stock Exchange (BSE). Current EPS and P/E of the stock stood at 65.87 & 35.70 respectively. The share price has seen a 52-week high of Rs 2405 and a low of Rs 984.10 on BSE.

Bharat Heavy Electricals Ltd (BHEL), on Sep 30, announced that its has pocketed its first-ever export deal valued at Rs 2.70 billion from the Republic of Belarus.

The contract for a 120 MW Cogeneration Power facility, to be established at Grodno in Belarus, has been bagged from Grodnoenergo, which is a state enterprise of Republic of Belarus.

BHEL, on Sep 25, received a Rs 3.65 billion deal from NPCIL for supplying four steam generators for the country's second 700 MWe nuclear power station, being set up at Rajasthan Atomic Power Project, Kota.

The company had pocketed a similar deal from NPCIL for India`s first 700 MWe nuclear station, being established at Kakrapar Atomic Power Project in Gujarat.

BHEL will plan, construct and provide these steam generators, and the product will be made and examined as per the American Society of Mechanical Engineers (ASME Sec. III) norms. On Sep 18, the company registered its record high income worth Rs 280.33 billion during the 2008-09 financial year.