Bharat Heavy Electricals gained 2.01% to Rs. 2223.05 at 12:37 IST on BSE, after net profit surged 30.83% to Rs. 1403.23 crore on 24.63% rise in net sales to Rs. 8849.27 crore in Q3 December 2010 over Q3 December 2009.
The company declared its results during trading hours today, 21 January 2011.
Meanwhile, the BSE Sensex was down 35.92 points, or 0.19%, to 19,010.62.
On BSE, 1.12 lakh shares were traded in the counter compared with the average daily volume of 64,885 shares in the past one quarter.
The stock hit a high of Rs. 2262 and a low of Rs. 2180 so far during the day. The stock had hit a 52-week high of Rs. 2695 on 7 October 2010 and a 52-week low of Rs. 2060 on 26 November 2010.
The large-cap stock had underperformed the market over the past one month till 20 January 2011, declining 5.83% compared with the Sensex's 4.24% fall. It had also underperformed the market in past one quarter, falling 12.80% as against Sensex's decline of 4.15%.
The company has an equity capital of Rs. 489.52 crore. Face value per share is Rs. 10.
Bharat Heavy Electricals (Bhel) said a change in accounting norm relating to revenue recognition has resulted in an increase in turnover by Rs. 444 crore, with a corresponding impact on profit.
Bharat Heavy Electricals (Bhel)'s order book position stood at Rs. 158000 crore as at the end of Q3 December 2010, which is 4.81 times its net sales of Rs. 32880.30 crore for the year ended March 2010, giving strong revenue visibility.
ref:
http://www.indiainfoline.com/Markets/News/Strong-Q3-results-power-Bhel/3497036928
Friday, January 21, 2011
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