Buy BHEL, target of Rs 2330: Emkay Global

RELATED NEWS Dr Reddys Laboratories a market performer: Karvy Buy IDFC, target of Rs 208: ULJK Securities Buy PVR, target of Rs 256: Prabhudas Lilladher Tech Mahindra an outperformer: Prabhudas Lilladher Buy Allahabad Bank, target of Rs 130: Emkay Global BHEL BSE | NSE 13/02/12 Are Mutual Funds betting on BHEL?

Emkay Global Financial Services has maintained its buy rating on Bharat Heavy Electricals with a target price of Rs 2330 in its July 22, 2008 research report. "BHEL Q1FY2009 results have been above our expectations. Net sales witnessed a strong growth of 33.9% yoy to Rs 43.3 billion against our estimates of Rs 40.6 billion on account of strong performance by the industry vertical. Consequently operating profit growth was at 20.3% yoy to Rs 3.7 billion (ahead of our expectation of Rs 3.2 billion)."

"We believe that BHEL is taking steps in right direction to address issue of supercritical order, increasing pace of execution and expanding capacity. Faster execution of delayed orders shall also improve near-term earnings growth. Maintain BUY, target Rs 2330," says Emkay's research report.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

For further details click on attachment.....