Shares of BHEL have taken a beating after the state-run power equipment maker reported almost flat growth in its Q3 FY12 net profit and a 7% drop in order inflows compared with the year-ago period.
The stock is currently trading at Rs 245, down Rs 28.50 or 10%. The stock has hit a high of Rs 259 and a low of Rs 243.
Total traded quantity on the counter stood at over 34.68 lakh shares.
Two big orders, along with some others totaling Rs 58.5bn were cancelled, which reinforces concerns on policy bottlenecks.
BHEL's nine-month order inflow of Rs 133.6bn for FY12 is just a fifth of the management target of about Rs 660bn.