BHEL soars on plans to increase R&D spend

Bharat Heavy Electricals is currently trading at Rs. 260.00, up by 3.20 points or 1.25% from its previous closing of Rs. 256.80 on the BSE.

The scrip opened at Rs. 259.40 and has touched a high and low of Rs. 261.60 and Rs. 258.35 respectively. So far 180538 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 450.20 on 18-Apr-2011 and a 52 week low of Rs. 225.00 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs. 271.90 and Rs. 250.00 respectively. The current market cap of the company is Rs. 63649.84 crore.

The promoters holding in the company stood at 67.72% while Institutions and Non-Institutions held 26.33% and 5.95% respectively.

BHEL, public utility giant is likely to increase research and development (R&D) spend to 2.5% or cross Rs 2,000 crore with the overall target set at Rs 1,01,600 crore by 2017. It has invested Rs 1,162 crore or 2.3% of the company’s total turnover on R&D during 2011-12.  The value of in-house developments from this R&D inputs was pegged at Rs 9,512 crore.

The Corporate R&D at Hyderabad, which drives the entire research activity of BHEL, also filed 351 claims for intellectual property rights. These include 143 patent applications, 206 for copyright and two for design.