BHEL shares hit fresh record high, cross Rs 400 mark; more steam left or caution advised?
BHEL: The state-run entity reported a consolidated net profit of Rs 1,290 crore for the January-March quarter of FY26, marking a 156 per cent year-on-year (YoY) increase from Rs 504 crore in the corresponding period last year.
- May 7, 2026,
- Updated May 7, 2026 4:44 PM IST
Shares of Bharat Heavy Electricals Ltd (BHEL) surged in Thursday's trade to cross the Rs 400 mark for the first time ever, extending their sharp rally after the company posted strong March quarter earnings.
The stock jumped 5.78 per cent to hit a fresh all-time high of Rs 408.30. It eventually settled 5.26 per cent higher at Rs 406.30. With this, BHEL has rallied more than 60 per cent in the past one month.
The state-run entity reported a consolidated net profit of Rs 1,290 crore for the January-March quarter of FY26, marking a 156 per cent year-on-year (YoY) increase from Rs 504 crore in the corresponding period last year.
Revenue from operations rose 37 per cent to Rs 12,310 crore in Q4 FY26 compared with Rs 8,993 crore in the year-ago quarter.
Alongside the earnings announcement, BHEL's board recommended a final dividend of Rs 1.40 per share of face value Rs 2 each for FY26.
"Final Dividend, if declared by the Company in the Annual General Meeting shall be paid/ dispatched within 30 days from the date of Annual General Meeting," BHEL stated.
Commenting on the stock's sharp move, Ravi Singh, Chief Research Officer at Mastertrust, said, "BHEL is exhibiting massive bullish momentum following a spectacular Q4 FY26 earnings report. Its net profit surged, driven by robust execution in the power segment and sharp EBITDA margin expansion."
From a technical perspective, Singh added, "The stock has entered a violent parabolic breakout move above the critical Rs 322.80 resistance level, backed by heavy institutional volume. While the broader structural uptrend remains firmly intact, traders should be cautious of chasing this vertical rally. The previous resistance at Rs 322.80 now acts as a formidable foundational support. For fresh entries, waiting for a minor consolidation or a healthy pullback offers a much safer risk-reward setup."
AR Ramachandran, a Sebi-registered research analyst at Tips2trades, said BHEL shares are bullish but overbought on daily charts with next resistance at Rs 433. "Investors should consider booking profits as a daily close below the support of Rs 395 could trigger a fall towards Rs 354 in the near term," he stated.
Brokerage ICICI Securities stayed positive on the stock after the quarterly earnings. The domestic brokerage said BHEL reported a strong beat to consensus estimates.
"Stock has re-rated over the last 3 years on back of strong order inflows; we expect further re-rating on back of further increase in revenues and continued accretion in order inflow in FY27E. We maintain 'Buy' with a revised target price of Rs 450 (from Rs 370 earlier)," it stated.
Shares of Bharat Heavy Electricals Ltd (BHEL) surged in Thursday's trade to cross the Rs 400 mark for the first time ever, extending their sharp rally after the company posted strong March quarter earnings.
The stock jumped 5.78 per cent to hit a fresh all-time high of Rs 408.30. It eventually settled 5.26 per cent higher at Rs 406.30. With this, BHEL has rallied more than 60 per cent in the past one month.
The state-run entity reported a consolidated net profit of Rs 1,290 crore for the January-March quarter of FY26, marking a 156 per cent year-on-year (YoY) increase from Rs 504 crore in the corresponding period last year.
Revenue from operations rose 37 per cent to Rs 12,310 crore in Q4 FY26 compared with Rs 8,993 crore in the year-ago quarter.
Alongside the earnings announcement, BHEL's board recommended a final dividend of Rs 1.40 per share of face value Rs 2 each for FY26.
"Final Dividend, if declared by the Company in the Annual General Meeting shall be paid/ dispatched within 30 days from the date of Annual General Meeting," BHEL stated.
Commenting on the stock's sharp move, Ravi Singh, Chief Research Officer at Mastertrust, said, "BHEL is exhibiting massive bullish momentum following a spectacular Q4 FY26 earnings report. Its net profit surged, driven by robust execution in the power segment and sharp EBITDA margin expansion."
From a technical perspective, Singh added, "The stock has entered a violent parabolic breakout move above the critical Rs 322.80 resistance level, backed by heavy institutional volume. While the broader structural uptrend remains firmly intact, traders should be cautious of chasing this vertical rally. The previous resistance at Rs 322.80 now acts as a formidable foundational support. For fresh entries, waiting for a minor consolidation or a healthy pullback offers a much safer risk-reward setup."
AR Ramachandran, a Sebi-registered research analyst at Tips2trades, said BHEL shares are bullish but overbought on daily charts with next resistance at Rs 433. "Investors should consider booking profits as a daily close below the support of Rs 395 could trigger a fall towards Rs 354 in the near term," he stated.
Brokerage ICICI Securities stayed positive on the stock after the quarterly earnings. The domestic brokerage said BHEL reported a strong beat to consensus estimates.
"Stock has re-rated over the last 3 years on back of strong order inflows; we expect further re-rating on back of further increase in revenues and continued accretion in order inflow in FY27E. We maintain 'Buy' with a revised target price of Rs 450 (from Rs 370 earlier)," it stated.