With order book at 5-year-high, Bhel scrip up 3%

Rallying for the second session, Bhel stock rose 3 per cent on Friday as it closed last fiscal, ended March 31, with a strong order book of Rs 43,727 crore — highest in 5 years. The scrip of the state-owned power equipment maker gained 2.64 per cent to settle at Rs 122.45 on BSE. During the day, it jumped 3 per cent to Rs 122.95.

On NSE, the stock was up 2.97 per cent to close at Rs 122.80. Volume-wise, 23.25 lakh shares of the company changed hands at BSE and over 2 crore shares were traded at NSE during the day. The stock had gained 5 per cent in the previous session.

Bhel had said yesterday that it has commissioned all-time high power generation capacity of over 15,000 MW and booked new orders worth Rs 43,727 crore in 2015-16.

The company reported a net profit of Rs 396 crore during the January-March quarter of 2015-16. The tentative or flash financial results of the company were approved by its board of directors in a meeting held yesterday, Bhel had said in a BSE filing. Overall, however, Bhel has recorded a provisional loss of Rs 877 crore last fiscal compared with the audited net profit of Rs 1,419 crore in 2014-15. It further said its turnover was Rs 26,702 crore last fiscal as against Rs 30,947 crore in the preceding fiscal.