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Bharat Heavy Electricals shares rocketed to a 52-week high of ₹274.80 Tuesday, capping an 18% rally over 10 sessions, as Q2 sales momentum and government infrastructure pushes electrified investor sentiment.
The state-run power equipment giant closed up 3.6% at ₹273.35 on the NSE, with volumes exceeding 18 million shares—double the average. Year-to-date, the stock has doubled, outpacing the Nifty by 80%, on a ₹1 lakh crore order pipeline.
September quarter net sales jumped 14% year-on-year to ₹7,512 crore, driven by turbine and boiler dispatches for thermal projects. EBITDA margins held at 8.2%, with net profit flat at ₹450 crore amid raw material cost offsets. Defence orders, now 20% of revenues, grew 30% on radar systems for the armed forces.
Mirae Asset Sharekhan flagged BHEL as a top pick for November 11, targeting ₹300 on 15% earnings growth in FY26. Technicals scream bullish: RSI at 65, MACD crossover positive, though overbought signals loom.
BHEL's pivot to renewables—50 GW solar EPC capacity—aligns with India's 500 GW non-fossil target by 2030. Recent ₹10,000 crore wins in EV charging infrastructure bolster the book. Promoter holding at 71% ensures stability.
Peers like Siemens dipped 1%, but BHEL's PSU tag shields it from private capex delays. Risks include execution slippages in hydro projects. As Q3 unfolds, monitor budget allocations for power sector revival.
