BHEL share price today: Shares of multibagger Bharat Heavy Electricals Ltd (BHEL) have turned weak in the short term. The power sector stock fell 5% in a month and has lost 4.18% in three months. In a period of one week and two weeks, the stock has merely gained 2.21% and 6.73%, respectively.
On the other hand, BHEL stock has risen 127% in a year and gained 387% in two years.
The stock has seen high volatility in the last one year with its beta climbing to 1.8.
In three years, the stock has climbed 402%. In the previous session, the stock gained 2.97% to Rs 282.30 on BSE. Market cap of the firm climbed to 98,298 crore. However, the multibagger stock is trading neither in the overbought nor in the oversold zone, signals its relative strength index (RSI), which stands at 53.6. BHEL shares are trading higher than the 5 day, 10 day, 20 day, 200 day but lower than the 50 day and 100 day moving averages. However, the BHEL stock has risen 145% from its 52-week low of Rs 113.50 hit on October 26, 2023.
Total 7.94 lakh shares of the firm changed hands amounting to a turnover of Rs 22.17 crore on Tuesday.
The PSU stock gained 42.32% in 2024.
ICICI Securities has assigned a buy call to the BHEL stock with an unchanged target price of Rs 370.
The brokerage believes the order book is strong for the PSU and that developers are swiftly finalising and awarding equipment orders, which is seen positive for BHEL.
"Thermal equipment ordering is scaling the summit. In our view, it would be overly hasty to write an obituary for thermal or coal-based power yet. We posit, the need to add reliability to the grid has led policymakers to push the pedal on the addition of new thermal power plants. As a result, developers are swiftly finalising and awarding equipment orders. In parallel, the largest coal-based player (NTPC) is on the ready to add another 26GW of new coal-based power," ICICI Securities said.
Another brokerage JM Financial has a buy rating on the stock with a price target of Rs 361. The brokerage cited growing order book, limited competitive environment and pick-up in execution behind its bullish stance on the stock. It is of the view that Bharat Heavy Electricals Ltd to regain its profitable growth trajectory from the December 2024 quarter.
The brokerage expects BHEL to report a revenue growth of 34 per cent, EBITDA growth of 150 per cent and profit after tax growth of 233 per cent over FY24-26E. "We continue to maintain the BUY on the stock with a target price of Rs 361 (40x FY26EPS) supported by healthy ordering, improving execution and the benefit of operating leverage," it said.
LKP Securities said that the stock could potentially reach Rs 288 in the near to short term. However, a drop below Rs 254 may push the stock back into consolidation, it added, suggesting investors to buy the stock around Rs 268-levels.
BHEL is one of the largest engineering and manufacturing companies in India engaged in design, engineering, construction, testing, commissioning and servicing of a wide range of products and services with over 180 product offerings to meet the ever-growing needs of the core sectors of economy.