Government-owned aerospace and defence electronic company, Bharat Electronics Limited (BEL), announced on June 30, 2023, that it has secured new Defence and non-Defence orders worth Rs. 2,191 crore. Following this news, BEL shares experienced a significant jump of 4.35% on the Bombay Stock Exchange (BSE), reaching Rs 125.85 per share. The trading volume of Bharat Electronics shares also increased by more than 2.06 times.
Order Details and Financial Performance
According to the filing with BSE, BEL has received orders for various products, including Long Range Guidance Kit with Warhead, Airborne V/UHF Jammer, Battlefield Surveillance Radar (Short Range) Upgrade, Missile Guidance Radar & Control Centre, Upgraded Radio Relay (F) with Data Modem Encryption Unit Mk II, Identify Friend or Foe Mk XII A, Anti-Submarine Warfare Shallow Water Craft (ASW SWC) Sonar, and Spares. These new orders are in addition to the Rs. 5,900 crore worth of orders already received. In the financial year 2023-24, BEL’s total orders now amount to Rs. 8,091 crore.
Bharat Electronics Stock Outlook
As of the latest trading session, BEL shares are priced at Rs 125.85 apiece on BSE. The company’s 52-week high and low prices stand at Rs 127.40 and Rs 74.68 apiece, respectively. With a market capitalization of Rs 91,993.57 crore, Bharat Electronics is classified as a large-cap Public Sector Undertaking (PSU) company.
Bharat Electronics’ Performance
Over the past few time periods, Bharat Electronics shares have shown impressive returns. In the last three months, the shares provided a return of 38%, while the returns for the year-to-date (YTD) period stand at 26%. Looking further back, the one-year return is 61%, the two-year return is 112%, and the highest return is 326% over the last three years.
About Bharat Electronics Limited (BEL)
Bharat Electronics Limited (BEL) is a Navratna PSU under the Ministry of Defence, Government of India. It specializes in manufacturing state-of-the-art electronic products and systems for the Indian Army, Navy, and Air Force. Besides its core defence-related activities, BEL has diversified into various sectors such as homeland security solutions, smart cities, e-governance solutions, space electronics (including satellite integration), energy storage products (including e-vehicle charging stations), solar energy, network and cyber security, railways and metro solutions, and airport solutions.
This article reports on the new order received by BEL and the subsequent rally in its shares. Neither Greynium Information Technologies nor the author can be held responsible for any losses resulting from investment decisions based on this article. Goodreturns.in advises readers to consult certified experts before making any investment decisions.