BHEL rallies on strong order book; rises 10% in two days

Shares of Bharat Heavy Electricals LtdBSE 5.44 % ended with gains of over 5 per cent in a muted market on Tuesday after the company said it has a strong order book for execution in the coming years, notwithstanding stagnation in the power sector and intense competition. "The state-run major also said the ongoing controversy over coal allocation for power plants would not have any impact on its operations," PTI reported. "In recent weeks, there have been reports that some of the projects, for which BHELBSE 5.44 % is supplying equipment, could be impacted by coal block allocation issues," said the report. "Projects currently being executed by BHEL have the required coal linkages and are progressing satisfactorily," the firm noted. BHEL closed 5.3 per cent higher at Rs 225. It has hit an intraday low of Rs 213.55 and a high of Rs 226. The stock has surged nearly 10 per cent in the last two trading sessions. more at: http://economictimes.indiatimes.com/markets/stocks/stocks-in-news/bhel-rallies-on-strong-order-book-rises-10-in-two-days/articleshow/16449722.cms