BEL Share Price ππ°
BEL, the government defense company, is trading with a bullish trend. In Friday’s trading session, the company’s share was trading at Rs 170.15 with a 3% increase. The main reason for the rise in BEL’s share is the large order received by the company. The Ministry of Defense has signed an agreement with BEL for the purchase of electronic fuses. The total value of these orders is Rs 5,300 crore.
On Friday, December 15, 2023, BEL’s share closed at Rs 169.35 with a 3.26% increase. On Monday, December 18, 2023, the share continued to rise and was trading at Rs 172, marking a 1.89% increase.
The Defense Ministry has signed an agreement worth Rs 5,336 crore with BEL. The agreement is for a duration of 10 years. According to the Ministry, the objective of the project is to reduce the import of defense equipment and increase the stock of ammunition.
Electronic fuses are an integral component of medium-heavy caliber artillery guns. These electronic fuses are extensively used in artillery guns. The Ministry aims to increase the stock of ammunition by reducing the import of defense equipment.
BEL has provided a return of 70% to its investors in the past year. The company’s share was trading at Rs 99.40 on December 16, 2022. On December 15, 2023, the share touched Rs 170.15, the highest price in the past year.
In the past three years, BEL’s share has given a return of up to 320% to its investors. On December 18, 2020, the company’s share was trading at Rs 40.40. BEL’s share was at its lowest level of Rs 87 during the 52-week period.
Brokerage firms have announced a target price of Rs 205 for BEL’s shares. π―
With the government’s focus on indigenous defense manufacturing, BEL’s prospects look promising. Investors can expect further growth in the company’s share price. πΉπ
(Note: This is a fictional news article and the share prices mentioned are for illustrative purposes only.)
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