This defence stock opened up today by 2.62% higher from the previous close and reached its 52-week high after securing an order worth Rs 580 Crore.
Bharat Electronics received an order of Rs 580 Crore from the Indian Army for AMC of Radars. This project will have the participation of Indian electronics and associated industries, including MSMEs, which are sub-vendors of BEL.
The Company has also received additional orders worth Rs 3,335 Crore since the last disclosure on 15th Sept 2023 and the said orders pertain to AMC for AEW&C system (Airborne Early Warning & Control), Uncooled TI sights, Software Defined Radios, SWIR payload, AMC for IACCS, Passive Night Vision Binoculars etc.
The share price of BEL closed around Rs 156 the previous day. As the market opened today the stock share opened around Rs 160 and is trading around the price range as of now.
Incorporated in 1954, Bharat Electronics Ltd manufactures and supplies electronic equipment and systems to the defence sector. The company also has a limited presence in the civilian market
The company was formed under the Ministry of Defence to handle Indian Defense’s electronic needs. BEL is a multi-product, multi-technology, conglomerate that provides products and systems to India’s armed forces in areas of Radars and fire Control Systems, Missile Systems, Communication and C4I systems, Electronic Warfare and avionics, Naval Systems and antisubmarine Warfare Systems, Electro Optics, Tank Electronics & Gun Upgrades, etc.
The Revenue increased by 12.8 % from Rs 3533 Crore on Q1FY24 to Rs 4009 Crore on Q2FY24. The Net Income increased by 46 % from Rs 539 Crore on Q1FY24 to Rs 790 Crore on Q2FY24.
The stock has given a return of 16 % over the past month and 35% in six months. On a Year-to-date basis, the stock has delivered a return of 60% to its investors.
Written by Nalin Suriya S
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