KRChoksey Research has recommended a hold rating on Bharat Heavy Electricals with a target price of Rs 1699 in its July 22, 2008 research report. "The net sales of BHEL rose by 33.87% to Rs 4,329.30 crore in Q1FY09 as against Rs 3,233.92 crore during Q1FY08. While, net profit of the company surged up by 33.06% to Rs 384.41 crore in Q1FY09 as against Rs 288.91 crore during Q1FY08."

"On back of huge order book, strong execution capabilities, enhanced capacities, we put the HOLD rating on the stock with target price of Rs 1699," says KRChoksey's research report.

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