BHEL shares touch 52-week low

Similarly at the NSE,the scrip settled at Rs 224.30,down 2.27 per cent from the previous close. During the day,the stock lost 3.13 per cent to touch a one-year low of Rs 222.30.

In terms of volume,9.64 lakh shares of the company changed hands on the BSE,while more than 54 lakh shares were traded on the NSE.

Sharmila Joshi,Head Equity,Fairwealth Securities said: 8220;BHEL shares declined after the Rajasthan Government reportedly scrapped tenders worth Rs 12,000 crore that were bagged by the company.8221;

Rajasthan Rajya Vidyut Utpadan Nigam Ltd RVUN,a state government company,has scrapped EPC Engineering,Procurement and Construction tenders for upcoming new super critical units of Suratgarh and Chhabra thermal power stations.

RVUN cancelled the separate tenders floated for two 660 MW units 8212; each for Suratgarh and Chhabra,respectively,without specifying any particular reasons.

8220;If these projects are retendered,we expect pricing to be lower than the previous bids,impacting sector margins,8221; said Venugopal Garre,India Industrials Analyst,Asia Ex-Japan Equity Research,Barclays.

BHEL shares largely underperformed the uptrend in the stock market,where the BSE benchmark Sensex closed at 17,318.81,up 131.47 points or 0.76 pr cent.

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