BHEL shares mark higher gains with strong momentum; rises 12.38% YTD, buy or not
Bharat Heavy Electrical Ltd shares are currently trading higher by 0.77% at Rs 261.95 at BSE with the opening at Rs 261.20.
Shares of state-owned defence PSU stock, Bharat Heavy Electrical Ltd (BHEL) have marked a strong momentum in the market through continuous fifth trading session of gains. The stock is currently trading higher by 0.77% at Rs 261.95 at BSE with the opening at Rs 261.20. The stock seems unaffected by geopolitical tensions in the Middle East, where Iran and Israel are pumping towards a ceasefire agreement.
In the last five trading session, the stock has risen by 10.10 basis points which is expected to be an outcome of surging geopolitical conflicts and more defensive equipment demands in recent India-Pakistan stand-off. Investors and analysts are mulling towards magnification of stock price in recent sessions.
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Meanwhile, the trading volumes on Tuesday in BHEL stock were surged with around 1 crore equity shares exchanging hands which is quite higher than the one-week average. The multibagger stock market capitalisation of Rs 91.16K crore with P/E ratio at 171.05 and dividend yield at 0.19%. The 52-week high is at 335.35. The stock is 12.34% high on a year to date basis and is 8.31% high in last six months.
Read Also : IRS Officer Vikas Singh appointed as Government Nominee Director on OIL BoardIn terms of Financial Performance, the March-end quarter revenue stood at Rs 8.99K crore with a rise of 8.88% but net income was down by -50.2% YoY at Rs 504.45 crore.
As per Price Target, the average 1-year price target from Wall Street analysts is Rs 224.34, with a low of Rs 61.61 and a high of Rs 378.
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