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 August 28, 2015, Bharat Heavy Electricals closed at Rs 234.60, up Rs 2.90, or 1.25 percent. The 52-week high of the share was Rs 299.50 and the 52-week low was Rs 195.10.
The company's trailing 12-month (TTM) EPS was at Rs 5.15 per share as per the quarter ended June 2015. The stock's price-to-earnings (P/E) ratio was 45.55. The latest book value of the company is Rs 139.26 per share. At current value, the price-to-book value of the company is 1.68.
READ MORE ON Cabinet, Bharat Heavy Plate Vessels, BHEL, Prime Minister Manmohan Singh, wage-revision arrears
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