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BHEL, L&T hit 52-week low on low order inflows

By Religare
|
BHEL, L&T hit 52-week low on low order inflows
India's leading engineering and capital goods companies, BHEL and L&T slipped to hit a fresh 52-week low during the morning trade session on Bombay Stock Exchange on November 18, 2011, over the persistent weakness in the demand of capital goods in domestic as well as global markets.
 

Shares of Bharat Heavy Electricals Limited (BHEL) after opening at Rs 286, up from previous close of Rs 284.65, dived to hit the low of Rs 269, reflecting decline of 5.5 per cent on BSE.

Also shares of Larsen and Toubro (L&T) plunged to 52-week low of Rs 1,203.35, down 2.4 per cent from previous close of Rs 1,232.50 on BSE.

Experts opined that weak order inflows in the sector has hit the sentiments of the investors, as new projects getting delayed across the country. Also high interest costs in the market have dampened the new projects outlay in domestic markets.

Decline in the two heavyweights was also instrumental in overall fall in Capital goods index as the BSE CG index was trading at 1,583.62 points, down 3% from previous close at 11:00 AM.

Story first published: Friday, November 18, 2011, 12:31 [IST]
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