BHEL Shares Plummet as Losses Widen

Shares of Bharat Heavy Electricals Ltd (BHEL), a state-owned enterprise, saw a significant drop of nearly 5% following the company's announcement of a widened consolidated net loss of Rs 455.50 crore for the June quarter.

The stock closed at Rs 227.80 on the BSE after a 4.94% drop, reaching a day's low at Rs 222.50. Similarly, on the NSE, the shares fell by 4.85% to settle at Rs 228.18.

BHEL attributed the increased loss to rising expenses, compared to a Rs 211.40 crore loss the previous year. The market valuation suffered a substantial decline of Rs 4,126.24 crore, closing at Rs 79,321.40 crore, although total income saw a slight increase.

(With inputs from agencies.)