QUICK TAKE: BHEL'S EARNINGS DISAPPOINT STREET

Even as broader markets rallied on Monday, BHEL’S stock fell 2% on weaker-than-expected June quarter results. Edelweiss says, contrary to larger peers, BHEL’S costheavy structure and stalled execution led to the miss. It has retained ‘reduce’ on the stock and cut target price to ~30, from ~45, due to earnings rationalisation