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BEL said that the major orders it has received since January 13 include advanced composite communication system for ship, communication equipment, medical electronics, electro optics, active radar homing head for missiles, class room jammers, spares, services etc.
Post these order wins, BEL has now won orders worth ₹10,893 crore so far in the current financial year, which is still less than 50% of the company’s full-year guidance.
The PSU, a new entrant to the Nifty 50 index, has guided for order inflow to the tune of ₹25,000 for the current financial year.
Brokerage firm Macquarie wrote in its note in December 2024 that all eyes would be on the quantum of orders that BEL manages to secure in the second half of the current financial year. It said that while the current order inflows are lagging so far this year, it is not a cause of concern.
Among the 27 analysts that have coverage on the Nifty PSU stock, 21 of them have a “buy” recommendation on BEL, while three each had a “hold” and “sell” rating on the stock.
Shares of Bharat Electronics ended 1.7% lower on Tuesday at ₹258.5, having briefly recovered during market hours post the order win announcement. However, the recovery was swiftly sold into. The stock has corrected close to 20% from its recent peak of ₹340.
