PSU stock in News: BHEL shares declines over 5% as firm faces arbitration challenge by Ducon Tech, USA
The downfall in the BHEL share price is attributed to the company announcing that arbitration has been initiated against the company for a claim and interest by Ducon Technologies Inc., USA.
PSU stock in News BHEL shares declines over 5 as firm faces arbitration challenge by Ducon Tech, USA
Government-backed electrical industry, Bharat Heavy Electricals Limited (BHEL) shares faced strong volatility on Tuesday, February 18, 2025, as the stock price dropped as much as 5.09% to hit a fresh 52-week low of Rs 183.60 per share.
The downfall in the BHEL share price is attributed to the company announcing that arbitration has been initiated against the company for a claim and interest by Ducon Technologies Inc., USA.
As per the exchange filing, “BHEL-BAP Ranipet hereby intimate that a claim of $30,89,179.05 & Rs 3,78,64,057.80, respectively, plus interest has been made by Ducon Technologies Inc., USA and Ducon Infratechnologies, (formerly known as Ducon Technologies (I)), Thane, India, against BAP-Ranipet and an arbitrator has been appointed on February 17, 2025 by Indian Council of Arbitration (ICA), New Delhi and the same is being defended by BHEL.”
The market capitalization of the company is Rs 64,157, as reported by BSE. The company falls under the BSE 200 category. The 52-week high for BHEL stock is Rs 335.40 per share, while its 52-week low is Rs 183.60.
Currently, the shares are trading 4.76% lower at Rs 184.25 per share. The stock's performance over the past year has been challenging, with a decline of 18.33%, contrasting sharply with the Sensex, which has gained 4.61% during the same period.