CRISIL has revised the outlook on the long-term bank facilities of Bharat Heavy Electricals Ltd (BHEL). to 'Negative' from 'Stable' while reaffirmed the rating at 'CRISIL AA+'. The rating on the short-term bank facilities have been reaffirmed at 'CRISIL A1+'.
Primary reason mentioned by the rating agency is weak operating performance and the continued increase in working capital intensity during the fiscal 2019 and the first quarter of fiscal 2020.
Shares of BHARAT HEAVY ELECTRICALS LTD. was last trading in BSE at Rs.48 as compared to the previous close of Rs. 48.3. The total number of shares traded during the day was 754728 in over 1975 trades.
The stock hit an intraday high of Rs. 48.75 and intraday low of 47.8. The net turnover during the day was Rs. 36422766.