BHEL's Q2 net profit fell 72.5% to Rs 125 crore from Rs 456 crore in the year-ago quarter.

Net sales came in at Rs 6,027 crore compared to Rs 8,819 crore in the quarter ended September 30, 2014.

Markets recovered from day lows as strength in Infosys, L&T and Sun Pharma managed to cap losses in HDFC twins, TCS and Bharti Airtel. At 1045 hrs, the Sensex was down 185 points at 27,994 and the Nifty was down 13 points at 8,370.

However, the broader markets gave off their morning gains and turned flat with a positive bias. The midcap index was up 0.2% while the smallcap index was near yesterday's close.

Benchmark indices have come off day’s high and are trading in a narrow range amid positive bias with Sensex and Nifty hovering around 27,900 mark and 8,350 levels, respectively.

Index heavyweight shares like ITC and Infosys are trading lower on account of profit taking whereas rate sensitive shares are witnessing some buying demand.

The benchmark BSE Sensex breached 28,000-mark for the first time and the NSE Nifty hit a new peak of 8,363.65 in early trade today on sustained fund inflows amidst optimism over encouraging corporate earnings.

The 30-share index flared up by 141.57 points, or 0.50 per cent, to hit a new peak of 28,001.95, surpassing previous intra-day record of 27,969.82 reached on Monday. The gauge had shed 5.45 points in the previous session. Markets remained closed yesterday on account of “Muharram”.

Benchmark indices were trading firm even as IT majors TCS and HCL Tech witnessed selling pressure after they reported lower-than-expected revenues for the quarter ended September 30, 2014.

At 9.30 AM, the Sensex is up 50 points at 26,061 and the Nifty is up 9 points at 7,757.

Bharat Heavy Electricals Ltd (BHEL) has bagged orders worth Rs 7,800 crore from Tamil Nadu Generation and Distribution Corporation Ltd (TANGEDCO). The order is for Engineering, Procurement and Construction (EPC) for a 1320 mega watt (MW) plant near Chennai.

The company said that the order is to set up a 2X660 MW coal-fired supercritical thermal power project at Ennore SEZ.

NEW DELHI: BHELBSE 3.79 % rallies as much as 4.1 per cent in trade on Thursday, after the state-run company said that it has bagged a Rs 7,800 crore contract for setting up a 1,320 MW thermal power project in Tamil Nadu.

At 09:30 a.m.; BHEL was trading 3.4 per cent higher at Rs 208.80. It has hit a low of Rs 208 and a high of Rs 210.25 in trade today.

Benchmark indices continue to maintain the dismal trend weighed down by HDFC Group shares, ITC and metal stocks.

At 11:45 AM, the 30-share Sensex was down 142 points at 26,426 and the 50-share Nifty was down 47 points at 7,898.

Growth in services activity picked up pace in September as order books filled up at a faster rate, a business survey showed on Tuesday.

Bhel has already executed thermal power projects in Telangana in Bhupalapally, Singareni Colleries and Kothagudem, whose performance is above the national average in terms of plant load factor.

Telangana State Power Generation Corporation (TS Genco) and Bharat Heavy Electricals Limited (Bhel) have signed a memorandum of understanding (MoU) to establish thermal power plants to generate 6,000 MW of electricity in Telangana, it was officially announced on Sunday.

The recent 1,000 point correction in the S&P BSE Sensex from its record high has seen 109 stocks from BSE-500 index hit their respective three-month low level.

Reliance Industries, Hindalco Industries, Tata Steel, Larsen and Toubro, BHEL, DLF, Tata Power Company, Reliance Infrastructure, Cairn India and Reliance Capital are among few notable shares touched three-month low on BSE during the current week.

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