Hem Securities has recommended a buy rating on BHEL , with price target of Rs 2665, in its report dated November 5, 2009. The stock closed at Rs 2221.55 on November 6, 2009.
"BHEL at the current market price of Rs 2217.55 will trade 31.32 times to its earnings of Rs 70.81 (TTM) and 7.61 times to its book value of Rs 291.45 and is expected to provide huge upside potential in near to me-dium - term. We initiate a 'BUY' signal on the stock at the current levels with a target of Rs 2665 in the medium term investment horizon (3-4 months) with an appreciation of 20%," says Hem Securities report.
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