Meanwhile, the BSE Sensex was up 62.65 points, or 0.37%, to 16,922.45.

On BSE, 1.95 lakh shares were traded in the counter as against an average daily volume of 8.01 lakh shares in the past one quarter.

The stock hit a high of Rs 215.90 and a low of Rs 213.25 so far during the day. The stock had hit a 52-week high of Rs 414.88 on 4 July 2011. The stock had hit a 52-week low of Rs 197.80 on 18 May 2012.

The stock had outperformed the market over the past one month until 19 June 2012, gaining 5.04% compared with the Sensex's 4.38% rise. The scrip had, however, underperformed the market in past one quarter, sliding 18.73% as against 2.39% fall in the Sensex.

India's largest power equipment maker by capacity has an equity capital of Rs 489.52 crore. Face value per share is Rs 2.

According to the report, the meeting will be chaired by Pulok Chatterjee, principal secretary in the Prime Minister's Office (PMO), and will be attended by representatives of the ministries of finance, power and heavy industries.

The move to impose duty on foreign power equipment in the country, primarily aimed at discouraging the purchase of cheap power equipment from China and to provide a level playing field to domestic manufacturers, has been in the works since 2010.

While such an action will benefit domestic firms including Bharat Heavy Electricals (Bhel) and Larsen and Toubro (L&T) that have been lobbying with the government to limit imports, it will affect Chinese power generation equipment firms and their Indian customers—power companies such as Reliance Power, Lanco Infratech and Adani Power.

Bhel has been facing competition from Chinese power generation equipment manufacturers both in the domestic and overseas markets. Foreign equipment makers, much like other exporters from China, benefit from low interest rates and an undervalued currency. Power utilities place orders for overseas equipment largely because of the inability of local manufacturers to meet growing demand. Chinese equipment is also relatively cheaper.

Domestic power equipment makers have reportedly demanded a customs duty of 10% and a special additional duty (SAD) of 4% on cheap imported power equipment.

While the power ministry had earlier floated a cabinet note ahead of the budget recommending a 5% import duty on power equipment imports apart from a 10% countervailing duty and a 4% SAD, it was not considered in the budget.

Bhel's order backlog declined 18% to Rs 134681 crore as on 31 March 2012 from Rs 164130 crore as on 31 March 2011.

Bhel's net profit rose 20.8% to Rs 3379.81 crore on 7.5% growth in net sales to Rs 19259.54 crore in Q4 March 2012 over Q4 March 2011.

Bhel is the largest engineering and manufacturing enterprise in India in the energy-related/infrastructure sector. The company caters to the core sectors including power, transmission, industry, transportation, renewable energy, oil & gas and defence.