BHEL Shares Drop After Brokerages Flag Q3 Gross Margin Pressure

Shares Under Pressure
Bharat Heavy Electricals Limited shares fell nearly 4% on January 20 as market reacted to earnings commentary.

Q3 Earnings Snapshot 
BHEL reported 16% revenue growth and more than double net profit, yet margins disappointed analysts. 

Broker Views
Domestic broker JM Financial cut its price target, citing ongoing execution of low-margin legacy projects like the 10.2 GW pre-Talcher orders 

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Margin Drag
Nuvama noted gross margins fell due to accelerated work on low-profit legacy projects, overshadowing profit growth. 

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