The foreign brokerage wrote in its note that BEL has received new orders worth ₹843 crore. Major orders include RF seekers, vessel and air traffic management systems, radar upgrades, electro-optic repair facilities, spares, services, and more.
BEL received new orders worth ₹577 crore on March 6. Overall order inflow for FY25 now stands at ₹14,600 crore, compared with the guidance of ₹25,000 crore.As many as 16 out of the 23 analysts who have a ‘Buy’ rating on Bharat Electronics expect the stock to surpass its previous record highs of ₹340 and even test levels of ₹400.
Earlier on Monday, Jefferies had maintained a ‘Buy’ recommendation on BEL, with a price target of ₹325.The brokerage, in its note, said the management had reiterated meeting its FY25 guidance which combined with global news on rising defence spend may be a near-term trigger for BEL.
Among other brokerages, Phillip Capital and Motilal Oswal have ‘Buy’ ratings on BEL, with target prices of ₹390 and ₹360, respectively. Nirmal Bang Institutional Equities also upgraded BEL following Q3 results to ‘Buy’ with a price target of ₹326.
The multibagger PSU bluechip counter had announced an interim dividend earlier this month.
The board of BEL announced an interim dividend of ₹1.50 per equity share (150%) having face value of ₹1 each.
Out of the 26 analysts that have coverage on Bharat Electronics, 23 of them have a ‘Buy’ recommendation on the counter, one has a ‘Hold’ rating, while two others have a ‘Sell’ rating.
Shares of Bharat Electronics ended 1.70% lower on Monday at ₹272.29. The stock is down 7% so far in 2025.
First Published: Mar 11, 2025 8:42 am IS
