BHEL tanks 12%, hits 52-week low as April-June earnings disappoint

Bharat Heavy Electricals LtdBSE -14.79 % (BHEL) plunged as much as 11.6 per cent in morning trade to hit its 52-week low of Rs 132 on Monday, after the power equipment maker posted nearly 50 per cent decline in net profit. At 09:50 a.m.; BHELBSE -14.79 % was trading 10.7 per cent lower at Rs 133.30. The stock has plunged nearly 12 per cent to hit its 52-week low of Rs 132. The power equipment maker reported a net profit of Rs 465.43 crore for the first quarter ended June 30, 2013 weighed down by lower sales. It had clocked a net profit of Rs 920.90 crore in the year-ago period. more at: http://economictimes.indiatimes.com/markets/stocks/stocks-in-news/bhel-tanks-12-hits-52-week-low-as-april-june-earnings-disappoint/articleshow/21615523.cms