Last week, Bharat Heavy Electricals (BHEL) announced a buyback of its 189.3 million equity shares (nearly 5.16 per cent of the paid up equity share capital) at Rs 86 apiece, amounting to Rs 16.28 billion. The buyback price is at around 28 per cent premium to the current market price of Rs 67 on the Bombay Stock Exchange (BSE).

Analysts believe investors should subscribe for the buyback offer, as the long-term outlook of the business remains a concern.

The Bharat Heavy Electrical (BHEL) stock skid 7.4% on Thursday as the company missed street earnings forecasts, even as it reported a 60.5% year-on-year (y-o-y) rise in net profit to Rs 185.2 crore for the three months to September. The company recorded a revenue of Rs 6,779.9 crore, up 6.3%, in Q2FY19. Analysts had estimated that BHEL’s profit in the quarter would be in the range of Rs 220-236 crore.

Expanding its footprints in the transportation sector, state-run engineering major BHEL Monday flagged off its first 6,000HP electric locomotive from its Jhansi plant.

“As part of its diversification initiatives, Bharat Heavy Electricals Ltd (BHEL) has flagged off of its first 6,000HP electric locomotive (Type WAG-9H),” a company statement said.

While the headline numbers suggest earnings season has got off to a good start the headline numbers mask the favourable base effect, the many one-offs and several accounting changes. Nonetheless, corporate India has done reasonably well in the three months to June rebounding smartly — as the increased volumes show — from the weak Q1FY18 which was the pre-GST quarter.

Bharat Heavy Electricals (BHEL) on Wednesday reported a net profit of `155.6 crore, up 92.6% year-on year (y-o-y), for the three months to June.

The profits come off a low base and were below analysts’ estimates. The company recorded a revenue of Rs 5,790 crore, up 8%, in Q1FY19. Earnings before interest taxes depreciation and amortisation (Ebitda) was `288 crore while the Ebitda margin was 4.9%.

New Delhi: Power equipment maker BHEL on Wednesday posted about 93 per cent jump in standalone net profit to Rs 155.58 crore in the first quarter of current fiscal on higher revenues.

Its net profit was Rs 80.82 crore in the April-June quarter of last fiscal, 2017-18, the company said in BSE filing.

Shares of Vedanta, Bharat Heavy Electricals (BHEL), Grasim Industries, Power Grid Corporation, Reliance Power, Tata Motors, NMDC and Rural Electrification Corporation (REC) were among 22 stocks from the S&P BSE 500 index that hit their respective 52-week low on the BSE in intra-day trade on Thursday.

Essel Propack, Great Eastern Shipping, Greenply Industries, Kajaria Ceramics, Kwality, Mangalore Refinery and Petrochemicals (MRPL), Rajesh Exports and Somany Ceramics, too, hit 52-week low today.

BHEL on Thursday said it has inked a pact with South Korean firm NANO Co Ltd for design and manufacture of emission controlling devices for coal-based power plants.

The Technology Collaboration Agreement (TCA) with NANO Co is for design and manufacture of SCR Catalysts for De-NOx application in coal-fired plants, BHEL said in a statement.

Bharat Heavy Electricals Ltd’s (BHEL’s) stock price has fallen by almost a fifth since January. Weak revenue growth, high receivables (customer dues) and low customer advances have taken the sparkle off this state-owned Maharatna. At the current market price, its price-earnings multiple has tumbled to around 14 times estimated FY19 earnings, from 20 times until a few months ago. Strangely, even the 74% spike in its FY18 order flows failed to enthuse the Street, due to concerns on sustainability.

State-run power equipment maker BHEL has bagged two orders worth Rs 10 billion from Telangana.

The orders from Telangana State Power Generation Corporation (TSGENCO) are for supply and installation of emission control equipment at Kothagudem and Bhadradri thermal power stations, BHEL said in a statement.

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