Nomura downgrades BHEL to 'reduce' on order concerns

Nomura downgraded Bharat Heavy Electricals Ltd to 'reduce' from 'neutral'

October 11, 2012 / 12:13 IST

26 Aug, 2025 12:21

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Nomura downgraded Bharat Heavy Electricals Ltd to 'reduce' from 'neutral', saying a revival of new orders was "unlikely" and lower-than-expected coal supply could lead to order cancellations.

Rising competition and falling utilisation could also impact margins, Nomura added.

The bank maintained its target price on India's top power equipment maker at 199 rupees.

first published: Oct 11, 2012 09:32 am

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