The Hindu : Business : BHEL, L&T lead rally

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Wednesday, Jul 25, 2007
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BHEL, L&T lead rally

MUMBAI: Buoyed by the government’s thrust on infrastructure sector, capital goods stocks remained at the centre of activity on the bourses on Tuesday with state-run BHEL leading the pack after it won a mega order of Rs. 1,829 crore.

Capital goods index remained on the top among sectoral indices with a rise of 171.11 points, or 1.26 per cent, at 13767.31 after rising to a record high of 14049.40. This was a major support to the benchmark BSE Sensex, which closed at record high of 15794.92.

Market observers said apart from steady spending on the country’s infrastructure sector, particularly power projects, road constructions and ports, expectations of strong earnings also influenced trading sentiment.

BHEL was the star performer on frenzied buying by foreign as well as domestic funds, on reports it has bagged a Rs. 1,829 crore order for setting up three 500 MW thermal units in Haryana.

BHEL stocks remained in positive zone throughout the session and hit an all-time high of Rs. 1,899 before winding up at Rs. 1,835.45, still up by Rs. 70, or almost 4 per cent.

Engineering major Larsen and Toubro was another stock which maintained its winning streak. It gathered Rs. 53.15 to close at Rs. 2,667.55 after striking a record high of Rs. 2,735.

Other bright stocks were ABB by Rs. 10.80 at Rs. 1146.90, Siemens by Rs. 12.75 at Rs. 1334.90, Bharat Earth Movers by Rs. 24.05 at Rs. 1,251.25, Alstom Project by Rs. 5.45 at Rs. 848.60 and Thermax by Rs. 3.20 at Rs. 601.65. — PTI

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