🚀 BEL Share Price Soars to New Heights 📈
📅 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%.
📈 Global brokerage firm Jefferies has recommended buying BEL shares, raising the target price from ₹305 to ₹370 per share. The stock closed at ₹321 on Monday. The brokerage firm believes that the company’s results are strong, with order books of over ₹76,700 crore for the fiscal years 2024-2027. This could lead to a significant increase in revenue. The company has a pipeline of orders worth ₹56,600 crore for the next three years.
📉 On Friday, 2nd August, the share was trading at ₹305 with a 2.09% decline. Nomura recommends buying BEL shares, raising the target price from ₹350 to ₹363. Macquarie has given an ‘outperform’ rating for a target of 350.
💰 In the first quarter of the current financial year, BEL’s net profit has increased by 46.21% to ₹776.14 crore. The company’s revenue in June quarter increased to ₹4,105.14 crore from ₹3,446.69 crore. The operating profit in the April-June quarter increased by 41% to ₹937 crore.
📊 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 ₹340.35 and a low of ₹123.55 on the BSE. The market capitalization of the company is over ₹2.32 lakh crore.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
