BHEL at Rs 23? Q1 loss narrows but analysts see up to 62% downside
NEW DELHI: BHEL NSE -3.10 %’s narrowing of June quarter loss failed to impress analysts, who see the stock falling as low as Rs 23 due to persistent headwinds. The recent rise on the stock was mainly due to hopes of divestment and strategic tieups, they said, adding that a rerating of the counter would hinge on clarity on ‘new avenues’ of growth, which is missing so far.
Small investors, who hold up to Rs 2 lakh worth BHEL shares, accounted for 15.10 per cent of the PSU’s holding as of June 30. LIC is the single largest non-promoter shareholder with 10.07 per cent stake in the company.
