>BHEL Q2(anagram)

Stock has corrected 50% from its peak and trading at 16x FY10E earnings provides long term investors an attractive entry point. We are keeping our estimates unchanged and are quite confident about its FY09E and FY10E earnings.

At CMP, stock trades at 21x FY09E and 17x FY10E earnings with an EPS of Rs.72 and Rs.89 Respectively. We recommended Accumulate rating on the stock

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