BHEL Shares Tank 13% On Weak March Quarter Earnings
Offers of BHEL today tumbled about 13 for each penny after the organization’s independent net benefit declined by 57 for each penny in the March quarter.
In the wake of making a feeble opening, offers of the organization dove 12.81 for each penny to Rs. 133.65 on BSE.
At NSE, the stock plunged 12.87 for each penny to Rs. 133.60.
On the volume front, 21.44 lakh offers of the organization were exchanged on BSE and more than one crore shares changed hands at NSE amid the morning session.
State-run BHEL’s independent net benefit declined by 57 for each penny to Rs. 215.55 crore in the final quarter finished March because of lower pay and arrangements for higher wages.
The organization had posted an independent net benefit of Rs. 505.71 crore in the comparing quarter of past monetary, BHEL said in a BSE documenting yesterday.
As per the announcement, add up to independent pay diminished to Rs. 10,302.79 crore in the quarter under survey from Rs. 10,870.49 crore year back.