 "Bharat Electronics gains on 'buy' rating from Motilal Oswal")
Bharat Electronics has surged 3.6% to Rs 2,123 on the BSE after Motilal Oswal initiated 'buy' rating on the stock and a target of Rs 2,600.
The brokerage said Bharat Electronics will be 'key beneficiary' of rising defence spending in India.
Indian Air Force is finalising acquisitions of $20-22 billion. Air Force acquisitions will benefit Bharat Electronics, the brokerage added.
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Bharat Electronics meets the specialised electronic needs of the Indian defence services. BEL is among an elite group of public sector undertakings which have been conferred the Navratna status by the Government of India.
The stock opened at Rs 2047, touched a high of Rs 2153 and a low of Rs 2047 on the BSE. A total of 28,480 shares have been exchanged on the BSE so far.