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BHEL share price skyrockets 36% in two days, gains 52% from March lows

In less than two months, BHEL share price has rallied 52.6 per cent from its 52-week low level. BHEL stock is still 61 per cent off from its 52-week high of Rs 75.50 hit in June last year.
BHEL share price surged as high as 10 per cent to Rs 29.30 apiece on BSE in an otherwise Thursday’s weak trade. In less than two months, BHEL share price has rallied 52.6 per cent from its 52-week low level. Last month,  Ltd (BHEL) invited expression of interest (EOI) from foreign companies to use its currently idle factories, in an attempt to encourage PM's Make In India program. However, BHEL stock is still 61 per cent off from its 52-week high of Rs 75.50 hit in June last year. In yesterday’s trade, BHEL shares soared over 23 per cent to close at Rs 26.65 (as compared to Rs 21.55 as of Tuesday closed
Around 2.15 PM, BHEL share price was trading at Rs 27.75 apiece, up 4.13 per cent. Foreign research and brokerage firm CLSA has given a ‘buy’ rating to the stock. “BHEL could emerge as an engineering R&D services provider, a contract manufacturer, or a lessor of urban-area industrial land,” CLSA said. “This could be a test case of a central public sector enterprise monetizing its assets to unlock value vs government divestment. Success should determine the extent of stock relating to its asset value,” it added.

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