Reuters Market Eye - Shares in Bharat Heavy Electricals Ltd (BHEL.NS) gain 3.3 percent after CLSA adds 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.
Dealers say BHEL seems like a contrarian bet by CLSA: As per I/B/E/S estimates BHEL has 18 'underperform' and 13 'sell' ratings versus 3 'buy' and 1 'outperform' rating.
Trending On Reuters
Prime Minister Narendra Modi has just suffered a bruising election setback, yet his party appears in no mood to compromise with the main political opposition to get stalled economic reforms back on track. Read