BHEL management's commentary to decide fate of the CG stock: Dilip Bhat

In a chat with ET Now, Dilip Bhat, Jt MD, Prabhudas Lilladher, shares his view on the quarterly earnings announced by capital goods major BHEL.

ET Now: What is your initial reaction on the Q4 numbers reported by BHEL? Will the numbers have any meaningful impact on the stock?

Dilip Bhat: No. I do not think so as the fall in top and bottomline growth has been in line with expectations. There is nothing surprising about it. The numbers were a tad more disappointing. That said, one has to look at how the ongoing financial year pans out in terms of the order intake for the company. That still remains a big nebulous at the moment. So, I do not think that people are factoring so much about the performance, which has come. The management commentary on the landscape over the next three to four quarters would matter the most.
Whether there is going to be some conspicuous improvement for BHEL or not will probably decide the direction of the stock.

Otherwise, the stock probably has priced in some of these things. There could be some correction may be in next 10-15 days possible. We believe that would be the level to gradually accumulate some of these capital goods stocks.