BHEL extends rally on hopes of better demand prospects

Bharat Heavy Electricals (BHEL), an integrated power plant equipment manufacturer, extended gains on Monday on hopes of better demand prospects after the reports said the government may make mandatory domestic sourcing for ultra mega power projects. Shares ofthe companyare trading at Rs 123.80, up Rs 7.7, or 6.63% at the Bombay Stock Exchange (BSE) on Monday at 4:00 p.m.The scrip has touched an intra-day high of Rs 124.65 and low of Rs 117.10. The total volume of shares traded at the BSE is 2,209,832.In the earlier session, the shares gained 8.1%, or Rs 8.7, at Rs 116.10. Currently, the stock is trading down 54.56% from its 52-week high of Rs 272.45 and above 23.37% over the 52-week low of Rs 100.35. Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 176.40 (5.75) (3.26) 1 Month 195.80 (25.15) (12.84) 3 Months 180.00 (9.35) (5.19) 6 Months 227.55 (56.90) (25.01) 1 Year 221.10 (50.45) (22.82) Note: Based on previous day closing price. ref: http://newindianexpress.com/business/hot_stocks/BHEL-extends-rally-on-hopes-of-better-demand-prospects/2013/08/26/article1753127.ece