BHEL order book to improve, but not its stock: AnandRathi

Shares of Bharat Heavy Electricals have fallen nearly 13 percent in the last two trading session, wiping-off over Rs 6,000 crore from its market value, amid investor concerns over the sluggish pace of new orders. Speaking to CNBC-TV18, Amol Rao analyst at Anand Rathi says the company currently is encountering headwinds on two accounts: 1) the interest rate gyrations occurring in the economy and 2) the fact that BHEL is always considered a proxy to national capex. He believes that BHEL still stands a very good chance of wining a significant portion of available power projects. However, Rao expects BHEL stock to remain under pressure despite order wins. more at: http://www.moneycontrol.com/news/business/bhel-order-book-to-improvenot-its-stock-anandrathi-_922317.html