BHEL may slip to Rs 110-115: Baliga

Ambareesh Baliga of Edelweiss Financial Services told CNBC-TV18, "Most analyts are downgrading BHEL to a sell. Possibly one should be looking at levels of Rs 110-115 over the next few weeks."

"The way things are I fear BHEL will go the Mahanagar Telephone Nigam (MTNL) way; we have seen Bharti Airtel and MTNL about six-seven years back and same thing is playing out or possibly could play out for BHEL and Larsen and Toubro (L&T). L&T continues to do well just like the way Bharti had done in the last so many years," he added.
At 11:05 hrs Bharat Heavy Electricals was quoting at Rs 135.75, down Rs 4.70, or 3.35 percent.
The share touched its 52-week high Rs 247.50 and 52-week low Rs 100.35 on 07 December, 2012 and 20 August, 2013, respectively.