Mutual funds managers dump BHEL on poor earnings, weak order book

Taking cognizance of the poor earnings visibility and weakening order book, the mutual fund managers have neatly dumped off their investment in the country's heavy engineering major - Bharat Heavy Electricals Limited (Bhel). As per Bhel's shareholding pattern as on Mar 31 '2012, Mutual Funds held just about 1.44% share in the company. This is a steep decline from 7.03% shares held by the Mutual Funds until a year ago in Mar '11. In fact, at 1.44%, MF shareholding in this company is lowest since at-least March 2001. While the MF industry has been gradually off-loading its investment in Bhel, especially over the past one-year from 7.03% in Mar '11 to 5.89% in Dec '11, it is however the fourth quarter of FY'12 that saw MFs literally dump the stock of this company from their portfolios. more at: http://economictimes.indiatimes.com/markets/analysis/mutual-funds-managers-dump-bhel-on-poor-earnings-weak-order-book/articleshow/13448854.cms