December 18, 2012 / 8:09 AM / in 5 years

BHEL gains; CLSA adds stock to Asia portfolio

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.

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