Nirmal Bang Issues ‘Sell’ Call On ‘BHEL’ To Achieve Target Price Of Rs 1505 to Rs 1440
Nirmal Bang, one of the leading equity research-cum-broking house, is of the view that investors can sell BHEL with a target price of Rs 1505-1440.
According to experts at Nirmal Bang, interested traders can sell the stock below its 13-day EMA of 1575, with a stop loss of Rs 1630.
Today (April 23), the stock opened at Rs 1,595 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 59.07 and 26.58 respectively. The share price has seen a 52-week high of Rs 1934 and a low of Rs 984.10 on BSE.
The report also suggested that if the stock fell below Rs 1425, it may see more weakness. So the investors must sell BHEL stock. After selling the stock, the interested investors can purchase the stock again at a low price, for medium term prospective to make good returns.
Bharat Heavy Electricals (BHEL), on April 21, said that it is eyeing to raise equity stake or even buy out forgings projects in Eastern Europe and China.
To boost power generation in the country, BHEL, on April 16, announced that it built thermal sets generating more than 4% extra power during the existing fiscal.
The Ranipet unit of Bharat Heavy Electrical (BHEL) is eyeing to boost its export business to Rs 1 billion by the next 3-4 years from the existing Rs 300 million.
Moreover, BHEL, Corporate R&D will invest Rs 8 billion in research and development (R&D) during fiscal 2009-10, 26% more than its investment of Rs 6.5 billion last fiscal.