Bharat Electronics hits record high on good Q2 results; healthy order book

The stock hit a record high of Rs 193, up 10% on the BSE in intra-day trade, on back of heavy volumes.

Bharat Electronics (BEL) hit a record high of Rs 193, up 10% on the BSE in intra-day trade, after the state-owned company reported a good set of numbers for the quarter ended September 2017 and strong order book position in hand.

The stock surpassed its previous high of Rs 181 touched on September 13, 2017 in intra-day trade.

BEL posted 19% year on year (YoY) growth in its net profit at Rs 412 crore in Q2FY18 against Rs 346 crore in Q2FY17. The company achieved a net turnover of Rs 2,432 crore in Q2FY18, registering a growth of about 46%, over the previous year quarter.

The company said it has order book position of Rs 41,746 crore as on October 1, 2017. It had total order book value of Rs 40,242 crore as on April 1, 2017.

At 12:07 PM; the stock was trading 5.5% higher at Rs 185 on the BSE, against a marginal 0.07% decline in the S&P BSE Sensex. The trading volumes on the counter jumped an over 14-fold with a combined 22.64 million shares changed hands on the BSE and NSE so far.