Deutsche Bank feels that elections could delay finalization to 5.6GW in FY19 out of 14GW opportunity.
Shares of Bharat Heavy Electricals (BHEL) added 2 percent intraday Monday as foreign research house Deutsche Bank has maintained buy rating with a target of Rs 112 per share.
According to research house fructification of FGD orders has just started, while expecting Rs 17,000 crore potential in FY19.
It feels that elections could delay finalization to 5.6GW in FY19 out of 14GW opportunity.
Rising power tariffs on demand recovery - indicator for new investments. It has maintained buy on compelling valuations and expected recovery of capital cycle in power.
At 11:35 hrs Bharat Heavy Electricals was quoting at Rs 74.65, up Rs 0.80, or 1.08 percent on the BSE.
The share touched its 52-week high Rs 108.00 and 52-week low Rs 64.50 on 23 January, 2018 and 17 July, 2018, respectively.
Currently, it is trading 30.93 percent below its 52-week high and 15.66 percent above its 52-week low.Posted by Rakesh Patil