If you are thinking of betting in a quality stock, then this can be useful news for you.
Actually, market experts are bullish on Bharat Electronics Limited (BEL Share) and are advising to buy it.
HDFC Securities has advised to buy defense sector company Bharat Electronics Limited with a target price of Rs 317-340 for 6-9 months.
The current share price of Bharat Electronics is Rs 297. Let us tell you that the President of India holds 373 crore shares of Bharat Electronics Limited. This is equal to 51.14 percent stake.
what are the details
The time period given by the analyst is half-yearly. During this period, the price of Bharat Electronics Limited can reach the decided target. Let us tell you that Bharat Electronics is a defense sector company.
It is a large cap company incorporated in 1954. Its market cap is Rs 2,17,100.43 crore.
Bharat Electronics’ key products/revenue segments include sales of electronic components and equipment, services, other operating revenues, scrap and rentals for the year ending 31-Mar-2024.
The company has reported a Consolidated Total Income of Rs 4762.66 Crore for the quarter ended 30-09-2024, up 7.09% from last quarter Total Income of Rs 4447.15 Crore and up from last year same quarter Total Income of Rs 4146.12 Crore. 14.87% more. The company has reported a net profit after tax of Rs 1083.88 crore in the latest quarter.
What did the brokerage say?
According to HDFC Securities, BEL has an edge over its competitors due to its dominant market position and collaboration with the armed forces, established infrastructure and manufacturing facilities as well as strong R&D capabilities.
The company also has big orders. Due to this, there is a possibility of its rise in the coming time.
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