Shares of Bharat Heavy Electricals Ltd. (BHEL) fell nearly 6% after a government-backed stake sale commenced, prompting concerns over short-term supply pressure and equity dilution. The offering, aimed at raising capital through a structured share divestment, drew cautious investor response despite the company’s improving order book and long-term infrastructure prospects. Market participants weighed the immediate impact of increased float against BHEL’s strategic role in India’s power and industrial sectors.