BHEL shoots up 7% on UBS report

Bharat Heavy Electricals (BHEL) rallied over 7% intraday on Friday as the foreign research firm UBS has put a buy rating on the stock with a target price of Rs 350, which is higher than its 52-week high of Rs 344 that touched on October 13, 2011. The report says, "While order inflow may remain subdued in the near-term, power reforms particularly the state electricity board package combined with tariff hikes, and clarity on fuel supply agreements will help change the outlook over the medium-term." At 14:57 hours IST, the share was trading at Rs 231.35, up 6.69% amid large volumes. more at: http://www.moneycontrol.com/news/buzzing-stocks/bhel-shoots7ubs-report_760377.html