Multibagger stock: Shares of Bharat Heavy Electricals Ltd (BHEL) have approached the oversold zone indicating the Maharatna could soon see more sellers than buyers on bourses. The RSI of the multibagger stock stands at 33.1, signalling the stock is nearing the oversold zone. A RSI below 30 indicates a stock is oversold on charts.
On the other hand, the defence stock has risen 61% from its 52-week low in six months. The multibagger stock slipped to a 52-week low of Rs 176 on March 3, 2025. In the current session, BHEL shares look weak in terms of price action as they trade lower than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages. However, the multibagger stock has risen 208% in three years and gained 645% in five years.
In the current session, BHEL stock was trading 0.57% higher at Rs 271.25 on BSE. Market cap of the firm stood at Rs 94,416 crore. Total 0.21 lakh shares of the firm changed hands amounting to a turnover of Rs 56.82 lakh today.
Ganesh Dongre, Senior Technical Analyst, Anand Rathi Shares and Stock Brokers has a buy call on the stock with
a target price of Rs 295. Stop Loss can be fixed at Rs 270.
“BHEL has been exhibiting a strong and consistent bullish pattern, indicating sustained investor interest and positive price momentum. The stock is currently trading at Rs 278 and has established a solid support base at Rs 270. This level has historically acted as a cushion, and the recent price action suggests a reversal from this support, reinforcing bullish sentiment. The technical setup points to the potential for a price retracement toward the Rs 295 level in the near term. Given the renewed strength and the favourable risk-reward ratio, entering at the current market price with a stop-loss placed at Rs 270 offers a strategic opportunity to capture the expected upside move. The outlook remains positive as long as the stock holds above its key support zone,” said Dongre.
However, CLSA has an underperform call for the BHEL stock. The global brokerage expects a 25% downside in the stock.
On the other hand, ICICI Securities has reiterated its ‘Buy’ rating on Bharat Heavy Electricals (BHEL. The brokerage has raised its price target to Rs 370 from Rs 324 earlier. It cited a sharp improvement in fundamentals, backed by three consecutive years of strong order inflows and signs of an impending execution ramp-up.
The brokerage says order inflows have seen a huge turnaround. BHEL’s order inflow jumped to Rs 80,000 crore in FY24 and further to Rs 92,300 crore in FY25 from an average of about Rs 21,000 crore between FY19 and FY23. The brokerage expects FY26 to to follow the same trend, with projected inflows of more than Rs 90,000 crore, according to ICICI Securities
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