Global brokerages have revised their stance on Bharat Electronics (BEL) after the PSU defence company posted its Q1 numbers. On Monday BEL, during market hours, reported a 46.1 per cent rise in consolidated net profit at Rs 776.14 crore against Rs 530.84 crore in the corresponding period of the previous year.

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The Navratna Defence PSU achieved a turnover of Rs 4105.14 crore, registering a growth of 19.10 per cent during the Q1 of FY 2024-25 against Rs 3446.69 crore a year ago. 

The order book position of the company as of July 1, 2024, stood at Rs 76705 crore, as per the filing. 

The company's board at their meeting held on May 20, 2024, had recommended a final dividend of 80 per cent which is subject to approval by the shareholders in the ensuing Annual General Meeting.

At around 9:33 a.m., shares of BEL were up 0.39 per cent or Rs 1.25 at Rs 322. 6 apiece on BSE. The market capitalisation of the company stood at Rs 2,36,215.5 crore at around the same time. 

What should investors do? 

Jefferies maintained a 'buy' call and raised the target to Rs 370 from Rs 305. As per the brokerage the company has posted stellar Q1 numbers. Further, it believes the Rs 76,700 crore order book provides FY24-27E revenue visibility and maintains a 15 per cent year-on-year (YoY) revenue growth guidance. 

Meanwhile, Morgan Stanley continued an 'overweight' rating and gave a target of Rs 300. Additionally, Nomura iterated 'buy' and raised the target to Rs 363 from Rs 350. 

Likewise, Macquarie continued with an 'outperform' rating and gave a target of Rs 350. 

BEL share price: Past performance

In a year, BEL shares have given a multi bagger returns of over 145 per cent against Nifty50's rise of 25 per cent. 

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