The uptick in the BEL share price came on the back of an additional order win worth Rs 634 crore
The company has retained its topline growth guidance of 15 per cent in FY25 and expects a 15-17.5 per cent growth in the coming five years, expected to be led by defence, exports, and services
The Nifty has retested resistance at the 24,500 mark after two days of recovery, and sustaining this level could lead to a further rise toward 24,800
BEL share rises on securing additional orders worth Rs 500 crore; details
BEL share price dropped despite the company securing the Ministry of Corporate Affairs (MCA) approval to incorporate 'BEL IAI AeroSystems Private Limited'.
"A correction was needed in defence stocks as they were overvalued after the Interim Budget amid high expectations from the Budget," said Palka Arora Chopra, director of Master Capital Services
BEL has experienced a significant 145 per cent stock rally over the past 12 months, largely driven by a 70 per cent increase in order intake in FY24 compared to management guidance
Shares of rail and defense related companies bounced back in trades on Wednesday; however, charts reveal that several stocks were trading below their key short-term moving averages.
The rise in share price came on the back of an order win worth Rs 3,172 crore from Armoured Vehicles Nigam Limited (AVNL)
Navratna Defence Public Sector Undertaking, Bharat Electronics Limited (BEL) has signed a contract valued at Rs 3,172 crore with Armoured Vehicles Nigam Limited (AVNL) on Friday at AVNL Headquarters in Chennai. According to an official statement, BEL, which is headquartered in Bengaluru, stated the project entails the supply and installation of an advanced, indigenously designed and developed Sighting and Fire Control System (FCS) for the upgrade of BMP 2/2K tanks of the Indian Army, along with a comprehensive engineering support package. "Additionally, BEL has secured other orders valued at Rs 481 crore following the last disclosure on May 22, 2024 which comprises doppler weather radar, classroom jammers, spares and services etc. With these, BEL has received accumulated orders totaling Rs 4,803 crore in the current financial year," it stated.
Shares of defense companies soared up 17.6 percent on the BSE in Friday's intraday deals
Government-owned shares witnessed intense selling pressure as analysts feared that the relatively poor showing of the Modi-government may impact its reforms agenda.
As corporate capex picks up, it expects the Indian corporate sector to sustain 12 - 17 per cent earnings growth in the medium-term
BEL has a market share of 12 per cent in the overall defence market and a market share of almost 60 per cent in the highly specialised defence electronics segment
The stock of state-owned defence company is quoting higher for the sixth straight trading days and zoomed 26 per cent during the period
The BEL board has recommended a final dividend of Rs 0.80 per share for FY24 subject to approval by shareholders
Q4 FY24 company results: IRFC, Bharat Electronics, India Cements, City Union Bank, and VRL Logistics will are poised to release the financial report for the fourth quarter on May 20
If added, both stocks could receive passive inflows in excess of Rs 3,000 crore
Nandish Shah of HDFC Securities recommends to Buy BEL 195 CALL and simultaneously Sell 200 CALL of the February expiry.
State-owned BHEL on Tuesday posted a consolidated net loss of Rs 148.77 crore for the third quarter ended December 2023, impacted by higher expenses. It had posted a net profit of Rs 42.28 crore in the October-December period of the preceding 2022-23 financial year, the company said in an exchange filing. The company's total income rose to Rs 5,599.63 crore from Rs 5,353.94 crore a year ago. Its expenses increased to Rs 5,816.87 crore from Rs 5,320.84 crore in the third quarter of the last fiscal. BHEL is one of the largest engineering and manufacturing companies, engaged in design, engineering, construction, testing, commissioning and servicing a wide range of products and services.