BHEL share latest news

BHEL Share latest News: In a recent development, BHEL has announced about getting a huge order worth rs. 13,300 crore. Here are going to see How this latest news will impact the share price of Bhel. Should You buy Bhel share after this news and if yes then target price.?

BHEL Bags order worth rs. 13,300 crore

Bhel has announced that it has secured an order of 13,300 crores to set up a 1600 MW thermal power plant in Koderma Jharkhand. the contract was awarded by Damodar Valley Contract (DVC).

As I have informed you guys on multiple occasions GOI aims to achieve self-sufficiency in energy generation and that too in the renewable sector if possible. and this is why stocks like Suzlon have gained momentum in the past few years.

Now with this Power plant Jharkhand and adjoining states would benefit immensely. Though for now the final date or year has not been announced for the completion of the project.

Impact on BHEL share Price

The current market price of BHEL is around rs. 300, after the news it gained only 0.8%. though investors were hoping to mark the upper circuit but that didn’t happen. The stock market in general was down on Friday which is why BHEL also performed under pressure.

For Now, Its predicted that BHEL’s latest update of getting this order would cash in this week. Investors might see the hopeful results this week.

Now always but whenever any company secures an order big or small it results in gaining several percentage points in its share price. Let’s see how it performs this week.

BHEL Share price BUY/SELL

In my opinion, a Buy/sell decision should be taken on our judgment and without anyone’s influence but multiple brokerage houses have presented their reports.

Multiple brokerage houses have given a “Buy” call for BHEL Share. Of course, their Targets vary according to their judgement but they all have given a buy signal for it.

Then there are a few who have given a sell call as well as the stock has gained more than 253% this year so they don’t see any more upside in this stock.

Very few have said to hold your current position because they see more upside in BHEL.

BHEL Share Target 2024

Now the final topic that must be discussed is the target price of BHEL share. So after this latest news on BHEL the target has been raised to rs. 380+. So, of you’re thinking of buying it Bhel share price target 2024 must be kept in mind.

One thing must be clarified here this target is the average of various Brokerage houses so it might be lower to some and higher to some. And also Never judge any company based on its target price. its not something that is fixed.

BHEL Share Target 2024 is based on multiple factors so until the factors are constant the stock is supposed to achieve this target otherwise it can go lower or higher also.

Conclusion

The final decision of Buy/sell must be taken on your own prudently. BHEL Share’s latest news must be considered because every development in the company affects its performance and in turn its stock price.

If you have any queries regarding this stock or any other stock feel free to comment below. and If you find this post helpful feel free to share it with your loved ones.

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