Rs 1,50,000+ crore order book: Heavy buying in this multibagger heavy electrical equipment stock; scrip hit 52-week high!

The stock gave multibagger returns of 115 per cent in just 1 year and over 170 per cent in 3 years.

On Tuesday, shares of Bharat Heavy Electricals Ltd (BHEL) jumped 11.80 per cent to Rs 112.75 per share from its previous closing of Rs 100.85. The stock also hit a 10 per cent upper circuit to Rs 110.90 per share with a spurt in volume by more than 2.55 times on BSE. After hitting the 10 per cent upper circuit the circuit limit was changed to 15 per cent.

Order Update: Recently the company has received an order for the supply of equipment - boiler, turbine, generator and associated auxiliaries along with control and instrumentation from Mahan Energen Limited (formerly known as Essar Power MP Limited), a wholly-owned subsidiary of Adani Power Limited worth Rs 4,000 crore.

Order Book Update: As of June 30, 2023, the company’s outstanding order book currently stands over Rs 1.50 lakh crore (excluding taxes) with the finalisation of the prestigious Vande Bharat trainset order in April 2023.

Results: According to the Quarterly Results, net sales increased by 70.84 per cent to Rs 5,003 crore in Q1FY24 over Q1FY23. The company reported a net loss of Rs 344 crore in Q1FY24 compared to a net loss of Rs 188 crore in Q1FY24. In FY23, the net sales increased by 10.16 per cent to Rs 23,365 crore and net profit increased by 7.2 per cent to Rs 477 crore compared to FY22.

BHEL has a market cap of over Rs 38,000 crore. The President of India owns the majority of the company (63.17 per cent), with the remainder divided among FIIs, DIIs, and the general public. The stock gave multibagger returns of 115 per cent in just 1 year and over 170 per cent in 3 years. Investors should keep an eye on this PSU stock.

Disclaimer: The article is for informational purposes only and not investment advice.