9 hours ago
BHEL share price: Defence stock jumps despite ease in Israel-Iran war; here's why
BHEL share price traded higher on Wednesday, marking gains for the fourth consecutive session amid strong buying momentum. The defence stock gained 1.63% to ₹ 264.15 apiece on the BSE, even as geopolitical tensions in the Middle East appeared to ease following a ceasefire agreement between Israel and Iran.
BHEL shares have climbed nearly 7% over the last four sessions. Investor interest in defence stocks, including BHEL, has seen a resurgence in recent weeks, spurred by heightened geopolitical tensions stemming from the Israel-Iran conflict and the recent military standoff between India and Pakistan.
On Tuesday, trading volumes in BHEL stock surged, with approximately 1 crore equity shares changing hands on the exchanges — significantly higher than the one-week average of 77 lakh shares.
Bharat Heavy Electricals Ltd (BHEL), the state-run defence PSU company, on Wednesday announced changes in senior management of the company.
The company has appointed Dipesh Palit as General Manager & Head (Power Sector- Technical Services). It has also appointed Heeralal Bharani as General Manager of Corporate HSE function. The appointment is with effect from 25th June, 2025.
BHEL share price is rising for the fourth straight session, adding nearly 5% this week.
'BHEL share price has formed higher bases and higher bottoms, suggesting strength, with momentum likely to continue. Immediate support is seen at ₹ 255, while the next resistance lies around ₹ 275 – 280,' said Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One.
BHEL share price has gained 23% over the past three months, and is up 12% on a year-to-date (YTD) basis. While the defence stock has declined 10% over the past year, it has surged 210% in two years. BHEL share price has delivered multibagger returns of 593% over a five-year period.
At 11:45 AM, BHEL share price was trading 0.67% higher at ₹ 261.65 apiece on the BSE.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
