Feb 19, 2013, 10.34 PM IST | Source: PTI

Cabinet likely to take up merger of BHPV with BHEL

The Cabinet is likely to take up the matter of merging Bharat Heavy Plate Vessels (BHPV) with parent company BHEL, in a meeting scheduled on Wednesday

The Cabinet is likely to take up the matter of merging Bharat Heavy Plate Vessels (BHPV) with parent company BHEL , in a meeting scheduled on Wednesday. "The proposal related to merger of BHPV with BHEL is on the agenda of the Cabinet meeting on Wednesday ," sources said.

Prime Minister Manmohan Singh in 2008 announced the merger of sick-unit BHPV with BHEL. The merger was approved by the company's board in 2010. The much-awaited merger may pave the way for employees of BHPV to get 60 percent of 1997 wage-revision arrears once the company's losses are absorbed up to 50 percent.

According to sources, the Cabinet may also approve regularisation of pay scales of below board-level executives in state-run REC , NHPC , North East Electrification Power Corp, THDC India and the Satluj Jal Vidyut Nigam. The proposal is for regularising pay scales of this category of employees with effect from January 1, 1997.

BHEL stock price

On April 23, 2014, Bharat Heavy Electricals closed at Rs 189.30, up Rs 2.65, or 1.42 percent. The 52-week high of the share was Rs 207.90 and the 52-week low was Rs 100.35.

The company's trailing 12-month (TTM) EPS was at Rs 19.83 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 9.55. The latest book value of the company is Rs 124.38 per share. At current value, the price-to-book value of the company is 1.52.

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