Mumbai: India’s leading power equipment maker, Bharat Heavy Electricals Limited (BHEL) recommended a disinvestment of 5 percent of its paid-up equity capital, leading to a fall of over 4 percent in the company’s shares.
BHEL stocks tumbled after the management announced disinvestment of 5 percent of the paid-up equity capital of the company. Reuters
BHEL shares fell as much as 4.6 percent to
Rs 1,981.40 after the announcement.
The company posted a 46.5 percent jump in fourth-quarter profit to Rs 2,798 crore for the quarter ended March 2011 against a net profit of Rs.1,910 crore for the same period a year earlier.
Net sales of the company rose to Rs 1,792 crore from Rs 1,356 crore in the same period last year.
Reuters
