Bharat Heavy Electricals Limited (BHEL) shares witnessed a sharp intraday decline on Thursday, retreating more than 5% from the day’s high amid profit-booking pressure. The stock, which opened on a strong note, failed to sustain higher levels and slipped significantly during afternoon trade.
As of 2:35 PM IST, BHEL shares touched an intraday low of ₹386.60 after hitting a high of ₹411.00 earlier in the session. The sharp correction erased most of the day’s gains and reflected heightened volatility in the counter.
The stock opened at ₹410.40 against the previous close of ₹406.30, indicating a positive start. However, selling pressure emerged near the day’s peak, leading to a notable decline during the trading session.
BHEL witnessed robust trading activity, with more than 1.47 crore shares changing hands by afternoon trade. The elevated volume suggests active participation from both institutional and retail investors.
Despite the intraday weakness, the stock remains significantly above its 52-week low of ₹205.12. BHEL had recently touched a 52-week high of ₹424.90, highlighting the strong rally seen in the PSU engineering major over the past year.
In the meantime, Global brokerage UBS downgraded Bharat Heavy Electricals Limited (BHEL) to “Neutral” from “Buy”while raising its target price to ₹460 from ₹375.
UBS said BHEL has outperformed the Nifty by nearly 60% over the past 12 monthsmaking the stock’s risk-reward profile more balanced after the sharp rally. However, the brokerage remains positive on BHEL’s order inflow outlook across thermal power and industrial segments and expects fresh orders worth around ₹1.36 lakh crore during FY27-FY28.
UBS also believes the market may be underestimating BHEL’s earnings growth potential, prompting it to raise FY27 and FY28 earnings estimates by 1%-3% and increase its valuation multiple to 28x from 25x.
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