Heavy borrowing cost signals aggressive shorts in BHEL

The high costs charged for lending and borrowing on Bharat Heavy Electricals (BHEL) indicate shorts are building up, analysts say.

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The average lending fee on BHEL in the NSE was at Rs 2.54 a share on Thursday, which on an annualised basis works out to 21.05 percent yield for the lender, NSE data shows.

Yogesh Radke, head of quantitative research at Edelweiss Securities, said interest on BHEL under the securities lending and borrowing scheme (SLBS) has surged.