BHEL Q2 losses lowest in 7 quarters. D-St still sees up to 50% fall in stock!
NSE -1.08 %’s losses narrowed in the September quarter and were the lowest in the last seven quarters. The numbers were ahead of analyst estimates, yet they could add little to change price targets, with analysts seeing up to 50 per cent downside for the stock ahead.
Fixed costs continue to remain high for BHEL and the current quantum of revenues are not sufficient to make it Ebitda positive in FY2022, said Kotak Institutional Equities, as it retain sell on the stock, with a target of Rs 35. At Tuesday’s close of Rs 72.10, that target meant a potential 51 per cent downside.
Following its quarterly numbers, BHEL was quoting Rs 65.75 in Thursday’s trade, down 0.83 per cent.
