BHEL Q3FY08 Results

Bharat Heavy Electricals Ltd (BHEL) has announced the following Unaudited results for the quarter ended December 31, 2007:

The Company has posted a net profit of Rs 7719.00 million for the quarter ended December 31, 2007 as compared to Rs 6676.50 million for the quarter ended December 31, 2006. Total Income has increased from Rs 45251.60 million for the quarter ended December 31, 2006 to Rs 52290.00 million for the quarter ended December 31, 2007.

NTPC - BHEL Joint Venture

National Thermal Power Corporation Ltd (NTPC) has informed that pursuant to signing of MOU with Bharat Heavy Electricals Ltd (BHEL) on September 10, 2007, and signing of a Joint Venture Agreement on December 17, 2007, the Company has signed with BHEL Ltd a supplementary Agreement on January 11, 2008 to engage in manufacturing and supply of equipment for power plants and other infrastructure projects in India and Abroad. The Company and BHEL shall have an equal equity participation in this Joint Venture.

BHEL Q2FY07 Results

Bharat Heavy Electricals Ltd (BHEL) has announced the following Unaudited results for the quarter ended September 30, 2007:

The Company has posted a net profit of Rs 6876.60 million for the quarter ended September 30, 2007 as compared to Rs 3600.10 million for the quarter ended September 30, 2006. Total Income has increased from Rs 35080.00 million for the quarter ended September 30, 2006 to Rs 44662.50 million for the quarter ended September 30, 2007.

Kotak Institutional - BHEL

Kotak Institutional recommends BUY and keeps a OUTPERFORM on BHEL

Target price of Rs 2025 (earlier target of 1825)

Spares business has contributed significantly

CLSA - Shoppers Stop, BHEL

CLSA has a buy on Shoppers Stop, with a target price of Rs 600

CLSA has a buy on BHEL, with a target price of Rs 1990