Are BHEL investors overlooking concerns?
- Apart from a dismal September quarter, stretched working capital and higher debt were key disappointments
MUMBAI : The Bharat Heavy Electricals Ltd (BHEL) stock has zoomed 77% so far in 2023. The government’s capex thrust has come as a shot in the arm for capital goods stocks lately. But in the case of BHEL, a robust order inflow outlook mainly for its thermal power segment, is fuelling optimism among investors. So much so, that despite dismal September quarter (Q2FY24) earnings, the stock is up 13% reacting to the results.