Bharat Electronics is on the rise after receiving orders worth Rs 2,191 cr

Bharat Electronics (BEL) has received fresh orders for defence and non-defence products totalling Rs 2,191 crore. Long Range Guidance Kit with Warhead, Airborne V/UHF Jammer, Battlefield Surveillance Radar (Short Range) Upgrade, Missile Guidance Radar & Control Centre, Upgraded Radio Relay (F) with Data Modem Encryption Unit Mk II, Identify Friend or Foe Mk XII A, Anti-Submarine Warfare Shallow Water Craft (ASW SWC) Sonar, and Spares are among the items ordered. 

These orders are in addition to the Rs 5,900 crore orders, which are already been received. With this, BEL has in all received orders to the tune of Rs 8,091 crore till now in the financial year 2023-24. 

BEL, an Indian public sector company, recorded a 19.18% increase in consolidated net profit to Rs 1,366.38 crore in the fourth quarter of FY23, compared to Rs 1,146.50 crore in the same period last year. The PSU has also declared a total dividend payout in 2022-23 of Rs 1.8 per share against Rs 1.5 per share for FY21-22. for its shareholders. Sequentially, BEL’s net profit for FY23 stood at Rs 2,940.35 crores compared to the FY22 quarter where net profit stood at Rs 2,354.46 crore, the growth is about 24.88%. 

BEL is a multi-product, multi-technology, multi-unit conglomerate with various products in the areas of military communication, radars, naval systems, C4I systems, weapon systems, homeland security, telecom & broadcast systems, electronic warfare, tank electronics, electro-optics, professional electronic components and solar photovoltaic systems 

Bharat Electronics is currently trading at Rs 123.00, up by 2.40 points or 1.99% from its previous closing of Rs 120.60 on the BSE. The scrip opened at Rs 121.15 and has touched a high and low of Rs 126.70 and Rs 120.70 respectively. So far 1276873 shares were traded on the counter. 

The BSE group ‘A’ stock of face value of Rs 1 has touched a 52-week high of Rs 127.40 and a 52-week low of Rs 74.75. Last one week high and low of the scrip stood at Rs 126.70 and Rs 117.95 respectively. The current market cap of the company is Rs 89508.24 crore. The promoters holding in the company stood at 51.14%, while Institutions and Non-Institutions held 41.92% and 6.94% respectively.