BHEL shares gain 2% on no divestment plan of govt

Shares of BHEL gained more than 2 percent intraday Wednesday after heavy industry minister Anant Geete on Tuesday says there are no plans for divestment in the company. He further says performance of the power equipment maker has been improving and so far it has received orders worth Rs 22,000 crore in FY16. The government has 63.06 percent shareholding in the company as of September 2015. About five percent stake sale in BHEL could fetch the government around Rs 2,000 crore. In March 2014, it had sold 4.66 percent stake in the company for around Rs 1,890 crore. At 09:35 hours IST, the scrip of Bharat Heavy Electricals was quoting at Rs 168.00, up Rs 3.35, or 2.03 percent on the BSE. ref: http://www.moneycontrol.com/news/buzzing-stocks/bhel-shares-gain-2no-divestment-plangovt_4515521.html