Shares of Bharat Heavy Electricals Ltd (Bhel), the state-owned power equipment firm, continued to rise, though its flash results declared last week showed a pathetic performance. The Rs.877 crore net loss for fiscal year 2016 was not only the decade’s first, but was steeper than what the Street expected. Further, it comes after a net profit of Rs.1,419 crore posted a year ago.
Perhaps the stock’s momentum is on the back of the 43% jump in order inflows for the full year. This implies a 51% rise in quarterly inflows.