BHEL - Making The Right Noises: ICICI Securities

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.Ridiculed. Opposed. Self-evident – the three stages of all incontrovertible ideas. We have arrived at the third stage of the idea that adding thermal capacity is receiving almost universal acceptance. India needs additional thermal capacity – we were of the firm belief that India needed to increase additional supply to ensure a smooth energy transition while the street has been negative on coal capacity addition. In a first, the government accepted the need to add incremental 50 giga watt of thermal capacity to ensure a reliable grid compared to the earlier held belief of mere 15-20 GW capacity addition. As a result, we expect coal capacity bidding to continue over medium term. Bharat Heavy Electrical Ltd. remains the key beneficiary of the increase in thermal capacity addition. We increase our target price to Rs 150/share and maintain 'Buy' rating on the stock..Click on the attachment to read the full report:.Cummins India - Near Term Domestic Demand Intact: Prabhudas Lilladher.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BHEL - Making The Right Noises: ICICI Securities

Strong order inflow (including level-one) in year-to-date-FY24 at ~Rs 400 billion.

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