Bharat Heavy Electricals lost 4.11% to Rs 1259 at 12:33 IST on BSE, extending two days' fall on reports rise in raw material cost may hurt margins in the year ended March 2009.
The stock lost 11.74% in two trading days to Rs 1313 on 16 October 2008 from Rs 1487.70 on 14 October 2008 after the company’s Chairman K. Ravi Kumar on 15 October 2008 in an interview to a business news channel told there will be some pressure on margins in the year ended March 2009 as raw material costs are expected to increase by 1%.
The stock hit a 52-week low of Rs 1241.55 in intra-day trade. It hit a high of Rs 1360 so far during the day. The stock has a 52-week high of Rs 2925 on 7 November 2007.
The company’s current equity is Rs 489.52 crore. Face value per share is Rs 10.
The current price of Rs 1259 discounts Q1 June 2008 annualized EPS of Rs 31.41, a PE multiple of 40.08.
The Bhel chairman, however, said the company is confident of achieving 30% growth in revenues in the current financial year. The company will announce its Q2 October 2008 results on 24 October 2008.
The company reported 33.1% rise in net profit to Rs 384.41 crore on 33.9% increase in net sales to Rs 4329.24 crore in Q1 June 2008 over Q1 June 2007.
Bharat Heavy Electricals (Bhel) is engaged in manufacturing and distributing electrical, electronic, and mechanical and nuclear power equipment.
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