BHEL Share Price: Bharat Heavy Electricals Ltd (NSE: BHEL) tanked more than 7 per cent on Monday, November 14, in morning deals as investors sentiment turned sour after the state-owned engineering firm posted a consolidated net loss of Rs 46.58 crore in the July-September quarter. Global brokerage firm Jefferies has tagged an Underperform rating on counter, foreseeing around 50 per cent downside from the current levels. 

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The stock opened at 69.30, crashing more than 7 per cent from its previous close of 74.50. At 10 AM, the counter quoted 69.60 apiece on NSE. 

The New-Delhi-based company posted a Rs 12.10 crore consolidated net profit in the September 2022 quarter on higher revenues on Friday. Its total income rose to Rs 5,418.74 crore in the quarter from Rs 5,197.25 crore a year ago.

Post declaration of the second quarter earnings, Jefferies has given an Underperform rating. The brokerage firm, however, has raised the target to Rs 40 from Rs 35.

​BHEL stock has yielded a positive return of around 15 so far in 2022. In perspective, Rs 60.70 apiece on January 3 is now available at around Rs 71.60 apiece. The stock's 52-week range is Rs 77.45 - Rs 41.40. 

Meanwhile, frontline indices BSE Sensex and NSE Nifty50, traded at 61,828.41 and 18,379.90, respectively, at 10:10 AM.

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