Bharat Electronics surges 12% in two days on strong management commentary

BEL, in its virtual analyst meet, highlighted that it expects double digit (10-15 per cent) topline growth over the medium-term

Shares of Bharat Electronics (BEL) were up 5 per cent to Rs 107.95 on the BSE in trade on Friday, and have rallied 12 per cent in the past two trading days on strong management commentary. The company has guided for double-digit growth, sustainable margins and better order inflows suggest strong performance in the medium-term. The stock of state-owned defence company hit a 52-week high of Rs 118.45 on August 14, 2020.

For April-September period (H1FY21), BEL had reported 18 per cent year-on-year (YoY) decline in its consolidated net profit at Rs 443 crore, while total revenue from operations