BHEL continue to remain sideways, says Dilip Bhat

BHEL continue to remain sideways, says Dilip Bhat, Joint MD, Prabhudas Lilladher.

Bhat told CNBC-TV18, “A couple of things are really playing out for BHEL. I think the cash is getting consumed in the company on the back of lack of orders and even the rate of execution has not been all that great. So that also has been impacting the margins.”
He further added, “All of us know that is actually the inflow of the orders, which will really mark the turnaround for BHEL and that is not very forthcoming or it is nebulous out over there. So all in all I think BHEL in my opinion will continue to move sideways give and take some 3-4 percent here and there without giving any specific direction.”
On Jan 31, Bharat Heavy Electricals (BHEL) closed at Rs 227.70, up Rs 5.25, or 2.36%. It has touched an intraday high of Rs 230 and an intraday low of Rs 221.05.