BHEL shares recently hit a 52-week high, but brokerages see more upside after the Maharatna PSU posted its first June-quarter profit in eight years. Strong execution, a robust Rs 2.6 lakh crore order book and improving margins have prompted ICICI Securities and JM Financial to reiterate their bullish outlook on the stock.

BHEL shares reached a 52-week high before retreating; Q1 profit ends eight-year wait, prompting mixed analyst reactions.

ICICI Securities analyst maintained a Buy rating on Bharat Heavy Electricals Limited yesterday and set a price target of INR520.00. The company...