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Money Dec 18, 2012

Bhel gains 3% after CLSA adds stock to Asia portfolio

Shares in Bharat Heavy Electricals Ltd gained 3.3 percent after CLSA added the stock to its Asia ex-Japan long only portfolio with a 3 percent weighting.

The addition is noted in CLSA's strategist Christopher Woods' Greed & Fear report dated on Monday. Reuters

The addition is noted in CLSA's strategist Christopher Woods' Greed & Fear report dated on Monday.

Dealers said Bhel seemed like a contrarian bet by CLSA: As per estimates Bhel has 18 'underperform' and 13 'sell' ratings versus 3 'buy' and 1 'outperform' rating.

Reuters


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