bharat heavy electricals bhel (JPMorgan) Remain positive post FY11 results and conference call

Management clarified that the move to streamline accounting policy with IFRS was the key reason for one-offs in FY11; Management provides positive outlook on order flows for FY12; Allayed market concerns on competition from SEC-Alstom JV; Stock corrected 6.7% today post board approval for 5% divestment and one-off ridden FY11 results
Date Rating Target Price Recommendation Price Broker house
24 May 2011 overweight 2400 1931 JPMorgan Report

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