BHEL Shares falls 12 percent after April-June earnings decline

Shares in Bharat Heavy Electricals (BHEL) (BHEL.NS) fell as much as 12.3 percent on Monday after its April-June earnings declined by 49 percent from a year earlier.

India's top power equipment maker said on Saturday net profit slumped to 4.7 billion rupees in the previous quarter from 9.2 billion rupees a year earlier.

As of 9:25 a.m., the stock was trading lower 11.4 percent lower.