The stock has seen bouts of strong buying after two quarters of strong economic growth of a higher-than-expected average 9.1 per cent for the two quarters ending September 30.

With industrial production expected to sustain at above 8 per cent for the full year '06-'07, BHEL could see further gains in the coming years. BHEL rose 89 per cent in 2006 from Rs 1,394 at the beginning of the year to a current level of Rs 2,636.

BHEL's share from the 65 per cent in the power sector, is likely to bring orders of 39,000 mw during 11th Five-Year Plan period, ie, around 7,800 mw per annum.

The company has a strong order book position of Rs 45,700 crore (Rs 457 billion) as on September 30, 2006.

The Navratna showed a 38.3 per cent rise in net profit to Rs 360 crore (Rs 3.60 billion) for the quarter ended September 30 against Rs 260.16 billion (Rs 2.601 billion) a year earlier.

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