๐ BEL Share Price Soars to New Heights ๐
๐ Tuesday, 30th July: BEL shares were trading in the range on Tuesday. The company announced its first quarter results on Monday, showing a 46.21% increase in net profit. Following the results, brokerage houses are bullish on Bharat Electronics Ltd. and are recommending buying for returns of up to 15%. The defense PSU stock has become a multi-bagger for investors, with an annual return of around 150%.
๐ Global brokerage firm Jefferies has recommended buying BEL shares, raising the target price from โน305 to โน370 per share. The stock closed at โน321 on Monday. The brokerage firm believes that the company’s results are strong, with order books of over โน76,700 crore for the fiscal years 2024-2027. This could lead to a significant increase in revenue. The company has a pipeline of orders worth โน56,600 crore for the next three years.
๐ On Friday, 2nd August, the share was trading at โน305 with a 2.09% decline. Nomura recommends buying BEL shares, raising the target price from โน350 to โน363. Macquarie has given an ‘outperform’ rating for a target of 350.
๐ฐ In the first quarter of the current financial year, BEL’s net profit has increased by 46.21% to โน776.14 crore. The company’s revenue in June quarter increased to โน4,105.14 crore from โน3,446.69 crore. The operating profit in the April-June quarter increased by 41% to โน937 crore.
๐ Looking at BEL’s stock performance, the stock has gained 36% in the last 3 months and 70% in the last 6 months. In 2024, the stock has increased by over 70%, nearly 150% in one year, and 250% in two years. The stock has hit a 52-week high of โน340.35 and a low of โน123.55 on the BSE. The market capitalization of the company is over โน2.32 lakh crore.
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