Stock to buy before Budget 2024: Analyst suggests buying this multi-bagger defence PSU stock; know target price
According to Khemka, the government's focus will remain on the defense sector and the allocation can be increased. In such a situation, he has chosen Bharat Electronics as #BudgetMyPick.
Siddhartha Khemka of Motilal Oswal Financial Services Ltd (MOFSL) has recommended buying a defence PSU stock before budget 2024 on July 23.
Motilal Oswal's Siddhartha Khemka pics BEL
According to Khemka, the government's focus will remain on the defense sector and the allocation can be increased. In such a situation, he has chosen Bharat Electronics as #BudgetMyPick.
Bharat Electronics Ltd
The analyst has suggested buying shares of Bharat Electronics Ltd (BEL) for 12 months.
BEL share price target
Bharat Electronics' earnings growth is expected to grow at the rate of 20 per cent in the next two years, said Khemka. In such a situation, the target for the next 1 year has been given at Rs 380. At present this share is trading at the level of Rs 333.3. From the current level, this return is around 14 per cent.
BEL stock performance
Bharat Electronics made an all-time high of Rs 340.4 in intraday. This stock has given returns of 14 per cent in the last month, 43 per cent in three months, 80 per cent so far this year, and 161 per cent in one year. The two-year return is 332 per cent and the three-year return is 444 per cent.
The views/suggestions/advice expressed here in this article are solely by the brokerage firm. Zee Business suggests its readers consult their investment advisers before making any financial decision.