Goldman Sachs reiterates sell on BHEL

Goldman Sachs has come out with a research report on BHEL reiterating Sell rating on the stock. The research report noted that NTPC's order pipeline is not very encouraging for BHEL.

As per Goldman's view, it expects NTPC to add 13.2GW capacity over the 12th FY plan and another 8.8GW over FY18-20E. The order for most of this capacity have already been placed and there is little scope for upside for BHEL.

The report noted uptick in award activity in power and resolution of fuel issues as key risk.

Source : Equity Bulls

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