Bharat Heavy Electricals - Holding All The Aces: ICICI Securities

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.We maintain Buy on Bharat Heavy Electricals Ltd. with an unchanged target price of Rs 370, valuing the stock at 40 times FY26E earnings per share of Rs 9.1/share..Thermal equipment ordering is scaling the summit. In our view, it would be overly hasty to write an obituary for thermal or coal-based power yet. We posit, the need to add reliability to the grid has led policymakers to push the pedal on the addition of new thermal power plants. As a result, developers are swiftly finalising and awarding equipment orders. In parallel, the largest coal-based player (NTPC) is on the ready to add another 26 GW of new coal-based power; the largest private player has already placed an order for 11GW of coal-based equipment. In entirety, this is fuelling order inflow for BHEL. Note – BHEL has already announced order inflow of Rs 364 billion and is level- in another 3.2GW (estimated at Rs 200 billion). As a result, we estimate order inflow of Rs 1 trillion in FY25 for BHEL..Click on the attachment to read the full report:.Cera Sanitaryware - Demand Remains Tepid; Management Guides For Stronger H2 FY25: ICICI Securities.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Bharat Heavy Electricals - Holding All The Aces: ICICI Securities

The company continues to benefit from an improving outlook for coal-based capacity addition, hence the brokerage maintains Buy rating on the stock with an unchanged target price of Rs 370 per share.

NDTV Profit

NDTV Profit

Follow Us

DOWNLOAD THE APP

Bharat Heavy Electricals - Holding All The Aces: ICICI Securities

The company continues to benefit from an improving outlook for coal-based capacity addition, hence the brokerage maintains Buy rating on the stock with an unchanged target price of Rs 370 per share.

Choose a plan

Follow Us

DOWNLOAD THE APP