Bhel cuts power equipment prices to fight slump

Bharat Heavy Electricals Ltd (Bhel), India’s largest maker of power equipment, cut prices by at least 15% in the past year to stem a slide in orders that threatens to send profit lower for a second straight year. “Electricity producers are scaling back investment because of a shortage of fuel, hurting manufacturers of equipment such as boilers, turbines and generators,” said P.K. Bajpai, finance director at the state-owned company. “Pending projects aren’t yielding orders as Asia’s third-largest economy expands at the slowest pace in a decade, according to Bajpai.” “We are trying to bid as aggressively as possible, but there’s overcapacity in the market,” Bajpai said in an interview. “We’ve corrected our prices in line with the market. We can only wait for things to improve as they will take time to get sorted.” more at: http://www.livemint.com/Companies/X53H00EPRWUWmjIkJDXMwN/Bhel-cuts-power-equipment-prices-to-fight-slump.html