BHEL share price today: Shares of multibagger Bharat Heavy Electricals Ltd (BHEL) look set to end 2024 on a positive note. The stock is up 23% this year. Returns from the defence stock have risen in the long term. The stock has gained 182% in two years and risen 279% in three years. Investors earned 441.37% returns from the multibagger in five years.
However, in the short term, BHEL stock has been trading in the red. The stock has lost 17% in six months and 8% in three months.
BEHL stock has a high PE of 359 compared to the sector PE of 116. The price to book ratio that compares a firm's market value to its book value stands at 3.49. Ideally, a firm's PB ratio should be less than 1, which indicates that the stock is undervalued. On the other hand, the PB ratio above 1 indicates that the stock is overvalued.
In terms of price movement, BHEL shares have fallen 27% from their 52-week high of Rs 335.40 reached on July 9 this year on BSE. They has also seen high voliatilty in the last one year, shows their beta value of 2.
In the current session, BHEL shares ended nearly 4% lower at Rs 244.25 on BSE. Market cap of the firm fell to Rs 85,049 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 58.9.
BHEL shares are trading lower than the 5 day, 10 day, 50 day, 100 day, but higher than the 20 day and 30 day moving averages.
Total 8.51 lakh shares of the firm changed hands amounting to a turnover of Rs 21.04 crore on Thursday.
Jigar S Patel, Manager at Anand Rathi said, "Support will be Rs 241 and resistance Rs 254. A decisive move above the Rs 254 level may trigger a further upside of 260. The expected trading range will be between Rs 235 Rs 260 in the short-term.
A R Ramachandran, SEBI registered independent analyst said, "BHEL stock price is bearish on the Daily charts with strong resistance at Rs 257. A daily close below the support of Rs 247 could lead to target of Rs 233 in the near term."
Brokerage JM Financial has a price target of Rs 371 on the stock.
"With a growing and executable order book, pick up in execution (29 per cent YoY revenue growth in Q2FY25) and, improving margins (4.2 per cent/-3 per cent during 2QFY25/2QFY24), the company has regained its growth trajectory. We expect revenue/Ebitda to grow at CAGR of 30 per cent/103 per cent through FY24-FY27E. We have 'Buy' call on the stock (currently trading at FY27E P/E of 20), with TP of 371 (35x Sep’26EPS)," said the brokerage.
ICICI Securities has a buy call on the BHEL stock with a 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.