BHEL tanks 12% on poor performance in March quarter

BHEL tanks 12% on poor performance in March quarter

Shares of BHEL dipped over 12% to hit their lowest since January 2017 after the company’s standalone net profit declined by 57% to Rs 215.55 crore in the fourth quarter ending March 31, 2017, as against Rs 505.71 crore in the corresponding quarter of the previous financial year due to lower income and provisions for higher wages.

The stock dipped as much as 12.8% to Rs 133.65, its lowest since January 25, 2017 on the BSE.

On the BSE, 17.11 lakh shares exchanged hands on the counter so far, compared with average daily volumes of 7.85 lakh shares in the past one quarter. Read more

Credits:business-standard.com

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