BHEL shares headed toward 17-year high or correction in offing? Find out 

Shares of Bharat Heavy Electricals Ltd (BHEL) surged 32% in two weeks as the stock market is on a recovery path post impact of the US-Iran war. The PSU heavyweight is trading near its 52-week high of Rs 333.75 reached in the previous session. The RSI of the multibagger stock stands at 77, signalling the stock is trading in the overbought zone. 

However, the BHEL stock is still a good Rs 60 away from its record high of Rs 390.69 reached in November 2007 (17 years ago).

BHEL share price targets 

Brokerage firm Axis Capital has maintained its "sell" call on BHEL stock with a price target of Rs 188, a fall of 41% from current levels. Axis Capital says better execution by BHEL in the fourth quarter is already in the price. The estimates of order inflows of financial year 2027's valued Rs 80,600 crore are below the financial year 2025 order inflows peak.

According to the brokerage, the recent run-up in the stock price is disconnected from its fundamentals. ICICI Securities has a 'buy' rating on BHEL with a target price of Rs 370. JM Financial has a price target of Rs 345 on Bharat Heavy Electricals Ltd (BHEL) stock. 

 BHEL stock movement 

In the current session, BHEL shares rose 1.29% to Rs 329.69 in early deals. Market cap of the firm stood at Rs 1.14 lakh crore. Total 2.75 lakh shares of the firm changed hands amounting to a turnover of Rs 8.97 crore today. The stock trades higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages. 

The multibagger stock has risen 338% in three years and gained 645% in five years. 

On the other hand, the defence stock slipped to a 52-week low of Rs 205.20 on August 29, 2025.

In the previous session, BHEL shares rose up to 5.5% after the firm announced strong revenue growth in FY26.BHEL reported a 18% rise in revenue at Rs 32,250 crore in FY26.

The company secured total order inflows of around Rs 75,000 crore during the year. With this, BHEL’s total outstanding order book at the end of FY 2025–26 stands at around Rs 2.4 lakh crore.