The stock was trading at ₹438.85, up ₹3.80 or 0.87%, as of 2:36 pm on February 25.
The fresh wins add to an already strong order book. At the end of December, BEL had reported an order book of ₹73,015 crore. The update had come alongside its December quarter results, where the company posted earnings ahead of analyst expectations.Revenue for the quarter rose 23.7% year-on-year to ₹7,122 crore, exceeding the CNBC-TV18 poll estimate of ₹6,710 crore. EBITDA increased 28% to ₹2,117 crore, while margins expanded by 100 basis points to 29.7%. Net profit grew 20.8% to ₹1,590 crore despite a ₹16.6 crore impact from new labour laws.
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Post earnings, brokerages turned positive. CLSA retained an ‘Outperform’ rating with a price target of ₹522, citing improving order inflows and progress on large programmes such as QR-SAM and the Indian S-400. Jefferies maintained a ‘Buy’ and raised its target to ₹565, while JPMorgan reiterated its ‘Overweight’ stance with a revised target of ₹556.
With fresh orders continuing to flow in, the focus now shifts to execution and further large-ticket defence contracts in the pipeline.
