184% Returns in 1 Year: This multibagger PSU defence stock jumps over 5.30% after strong Q4 performance
Bharat Dynamics reported a 89 per cent jump in its profit after tax (PAT) to Rs 289 crore in the fourth quarter from Rs 153 crore Year-on-Year (YoY). Its revenue from operations rose by seven per cent to Rs 854 crore in Q4 from Rs 798 crore in the corresponding period last year. Its EBITDA skyrocketed by 72.60 per cent to Rs 316 crore in the quarter under review from Rs 183 crore in the same quarter last fiscal.
Bharat Dynamics Share Price: Bharat Dynamics rose over 5.30 per cent on BSE on Friday (May 31, 2024) after the multibagger defence PSU reported a strong set of January-March (fourth quarter, Q4) results on Friday.
The stock that closed at Rs 1546.75 a day ago soared by 5.34 per cent to jump to Friday's high of Rs 1,629.40 after starting the session at Rs 1,621.65.
Bharat Dynamics shares were trading higher by 0.84 per cent, or Rs 13.00, at Rs 1,559.75 each at 9:39 am on Friday.
Bharat Dynamics Q4FY24 YoY
Bharat Dynamics reported a 89 per cent jump in its profit after tax (PAT) to Rs 289 crore in the fourth quarter from Rs 153 crore Year-on-Year (YoY).
Its revenue from operations rose by seven per cent to Rs 854 crore in Q4 from Rs 798 crore in the corresponding period last year.
Its EBITDA skyrocketed by 72.60 per cent to Rs 316 crore in the quarter under review from Rs 183 crore in the same quarter last fiscal.
Bharat Dynamics' margin rose by 37 per cent in the fourth quarter from 22.9 per cent YoY.
Its other income was Rs 88 crore in this quarter compared to Rs 37 crore YoY.
Bharat Dynamics also declared a dividend of Rs 0.85/share.
Bharat Dynamics Share Performance
The defence PSU's shares have soared by 57.69 per cent in the six-month period, while its year-to-date jump has been 80.75 per cent. The stock has given stellar returns of 183.64 per cent in the one-year period.
Varun Dubey's target for Bharat Dynamics
Zee Business analyst Varun Dubey has given targets of Rs 1,575, Rs 1,595, Rs 1,620 for the stock with stop loss at Rs 1,525.
He said that the stock had shown extraordinarily strong performance.
It has ran 70 per cent in the three months and nearly 200 per cent in one year,
He asked tobuy it on dips.
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