Shares of BHEL sunk to 1-month lows

Shares of Bharat Heavy Electricals Ltd., the top maker of power equipment, sunk to 1-month lows after the company reported a sharp fall in first quarter earnings on the back of a slowdown in order inflows.

BHEL said its first quarter Net Profit slumped 82 percent to 34 crore rupees compared with 193.50 crore rupees in the same quarter a year ago. Sales during April-June dropped 14 percent to 4,500 crore rupees from 5,277.2 crore rupees in the year ago period.

BHEL dropped 19 rupees, or 6.7 percent, to 263.60 rupees, its lowest since July 9, on the National Stock Exchange, where 1.5 crore shares were traded by 2:50 pm compared with the 5-day average of 29.2 lakh shares.

BHEL's market capitalisation stands at 68,606 crore rupees.

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