BHEL surges 10% on order win, HSBC upgrade
Updated : August 27, 2019 11:37 AM IST
Shares of Bharat Heavy Electricals (BHEL) surged over 10 percent on Tuesday on twin effects of HSBC upgrading the stock and the company winning orders worth Rs 2,500 crore.
According to a press release by BHEL, the company has successfully secured two more orders for emission control equipment for thermal power plants by NTPC.
HSBC upgraded BHEL due to steep correction, balance sheet strength and long-term growth potential. However, it sees near-term weakness in the stock.