Stock To Buy: Multibagger PSU Wins 6100 Cr NTPC Order, Shares Up 115% In 1-Yr; TP Rs 305

Bharat Heavy Electricals Ltd (BHEL) shares will remain in limelight on Monday as the PSU today bagged new order from NTPC. Last trading price of Bharat Heavy Electricals Ltd (BHEL) shares on BSE is Rs 266.15 per share. Bharat Heavy Electricals Ltd shares corrected 10.16% in last 1-month and soared 34% so far this year. Bharat Heavy Electricals Ltd has a market capitalisation of Rs 92,675.12 crore. The large cap PSU recommended final dividend of Re 0.25 (i.e. 12.5%) for the year 2023-24 and set August 9, 2024 as the record date. Life Insurance Corporation Of India (LIC) has 7.33% stake in BHEL with 255,389,940 shares of the company. LIC stake in BHEL declined from 8.18% in March to 7.33% in June. FII/FPI have increased holdings from 8.76% to 9.10% in June 2024 quarter. Check key details related to BHEL below:

Analyst Recommends Buy: Domestic brokerage firm LKP Securities recommended investors to buy BHEL shares with near to short term target price of Rs 288 per share and maintain stop loss at Rs 254 per share. Meanwhile, according to A R Ramachandran, Independent SEBI Research Analyst, "BHEL is oversold and slightly bullish on the Daily charts with strong resistance at 269.8. A Daily close above this resistance could lead to target of 305 in the near term. Support will be at 257.85."

BHEL Wins Order From NTPC: BHEL declared that it bagged an order worth more than 6100 crore from NTPC for setting up supercritical thermal power project in Chhattisgarh. The order consists of an engineering, procurement, and construction (EPC) package for the 1x800 MW Sipat supercritical thermal power project stage-III located in Bilaspur, Chhattisgarh. The time period by when the order must be executed is 48 months from the date of notification of the award.

BHEL Final Dividend In 2024: According to the BSE filing of BHEL issued as on July 19, "the Company has fixed Friday, 9th August, 2024 as the "Record Date" for the purpose of determining the eligibility of the members to receive final dividend of Rs. 0.25 per share (i.e. @ 12.5% on the paid up equity share capital) for the year 2023-24."

BHEL Dividend History: Bharat Heavy Electricals announced a total of 38 dividends since August 27, 2001. In last 1-year, Bharat Heavy Electricals announced an equity dividend amounting to Re 0.25 per share. At the current share price of Rs 266.15, Bharat Heavy Electricals offers a dividend yield of 0.09%.

Shareholding Pattern: Promoters holding remains unchanged at 63.17% in June 2024 quarter. FII/FPI have increased holdings from 8.76% to 9.10% in June 2024 quarter. Number of FII/FPI investors increased from 469 to 535 in June 2024 quarter. Mutual Funds have decreased holdings from 5.75% to 5.36% in June 2024 quarter. Institutional Investors have decreased holdings from 24.71% to 24.13% in June 2024 quarter.

BHEL Shares Performance: The 52-week high price of Bharat Heavy Electricals shares on BSE is Rs 335.40 apiece (as on 09/07/2024) and 52-week low price is Rs 113.50 apiece (as on 26/10/2023), respectively. BHEL shares dived over 9% in last 3-months, rose 18% in last 6-months, gained 342% in last 2-years, and jumped 391% in last 3-years. In last 5-years, BHEL shares zoomed 431%.

About: BHEL is India's largest engineering and manufacturing enterprise in the energy and infrastructure sectors. Established in 1964, it is a leading power equipment manufacturer globally and one of the earliest and leading contributors towards building an Aatmanirbhar Bharat. The Government of India has granted the MAHARATNA status to BHEL, according to its official website.

Disclaimer:

The stock has been picked from the brokerage report of LKP Securities and A R Ramachandran. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.