BHEL, Engineers India stocks down
Posted on Aug 13 2014 | IANS
Mumbai, Aug 13 : Stocks of state-run power equipment manufacturer BHEL (Bharat Heavy Electricals Limited) Wednesday fell around seven percent at Rs.209 from its previous close.
On the Bombay Stock Exchange (BSE), the scrip of the power equipment manufacturer fell about 6.57 percent at Rs.209 from its previous close of Rs.223.70, on the back of sluggish first quarters results announced Tuesday.
The scrip touched a low of Rs.205 in the intra-day.
The company's net profit fell by 58.4 percent at Rs.193.5 crore from Rs.465.4 crore in the corresponding period of last year.
Another state-run enterprise Engineers India's scrip fell by 13.89 percent at Rs.238.70 from its previous close of Rs.277.20. The scrip touched the day's low of Rs.236.90 in the intra-day.
The design and engineering consultancy major's net profit dropped by 10.3 percent in the first quarter of the current fiscal at Rs.80 crore from Rs.129 crore in the corresponding quarter of the last fiscal.