New Delhi. Domestic brokerage firm JM Financial and other experts remain positive on Bharat Heavy Electricals Limited (BHEL) shares. They expect the company to grow by up to 45%, even though Larsen & Toubro (L&T) challenges it in the thermal power space. JM Financial believes that BHEL has ample potential for order inflow.

Recently, L&T re-entered the thermal business by quoting the lowest bid in NTPC's bulk tender. JM Financial said that L&T's bid was slightly lower than BHEL's, but it shows that there are ample opportunities in the market and BHEL will have to focus on good margins. According to JM Financial, BHEL has secured orders worth ₹35,100 crore for 10 GW projects in FY25. Experts say that order inflow will remain strong in the future due to the increase in the number of active tenders and projects for the company.

Nevertheless, Kotak Institutional Equities has maintained a 'sell' rating on BHEL and has a target price of ₹100, implying a downside potential of up to 60% for the stock. In contrast, Antique Stock Broking has a 'buy' rating on BHEL and has a target price of ₹352.

BHEL shares stabilized after falling 3% to ₹246.65 on Friday and closed at around ₹254.05, giving the company a market cap of ₹88,500 crore. According to BHEL's financials, it is expected to report a revenue of ₹5,875.4 crore and a net loss of ₹85 crore in the upcoming quarter. Despite this, analysts believe that the situation may improve in the coming time due to better order book and operating profit. According to analysts, the market prospects for BHEL are still strong, and given this, there may be opportunities for investors in the company's shares.