BHEL continues with its momentum

BHEL has been having a good run on the bourses lately. Yesterday the stock rose some 6% and today  from its previous close of Rs.119.3, rose to Rs.121.65. Its 52-week high and low stands at Rs.289.85 and Rs.90.40 respectively.

The company gave a preview of its performance for Q4FY16 and FY16. It stated that there has been a 42% jump in new orders in FY16. It also reported provisional net loss of Rs 877 crore versus net profit of Rs 1,419 crore (YoY). The company has said that FY16 saw the highest-ever commissioning of projects in its history and the highest order booking in the past five years.

The company also said that it has achieved 94% of the capacity addition target for the twelfth plan in first four years itself. Its order book stood at over Rs 1.10 lakh crore as on 31 March 2016. BHEL added that its rising trend of debtors has also been arrested and it is today in a cash surplus situation.