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BEL shares increase: Shares of Bharat Electronics Limited (BEL) rose as much as 2.16 percent to hit an intraday high of Rs 273.15 per share on Tuesday, October 8, 2024.
The rise in BEL share price came following an incremental order gain worth Rs 500 crore.
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In an exchange filing, the company said, BEL said: “Navratna defense public sector undertaking Bharat Electronics Limited (BEL) has secured incremental orders of over Rs 500 crore since its last disclosure on September 11, 2024.”
With these orders, BEL has orders worth Rs 7,689 crore for the current financial year.
“Major orders received include EMI shelters, AMCs for Integrated Air Command and Control System nodes, upgrades/spares for gun systems, spares for radars, air defense system communication, etc.”, underlined BEL.
Financial performance of BEL
BEL reported a year-on-year (YoY) increase of 47 per cent in its net profit to Rs 791 crore in the June quarter of financial year 2025 (Q1FY25), compared to Rs 538.5 crore in the June quarter of fiscal 2024. (Q1FY24).
The company’s sales jumped a little over 20% annually to Rs 4,243.6 crore in the June quarter of FY25, compared to Rs 3,532.9 crore in the June quarter of exercise 24.
BEL share price history
BEL shares have almost doubled investors’ wealth over the past year. Year to date (YTD), BEL stock has surged about 46 percent.
However, last month the stock suffered a 3 percent correction.
The stock’s 52-week range is Rs 127-340.35.
BEL context
Established in 1954, Bharat Electronics Limited (BEL) is renowned for its expertise in various fields. It specializes in the design, development, manufacturing, supply and life cycle support of strategic electronic products and systems.
Initially, BEL catered to the specialized electronic needs of the Indian defense services. Today, it has become a diversified entity offering multiple products and technologies, serving national and international customers.
BEL’s product portfolio includes a wide range of strategic electronic products such as radar warning receivers, composite communication systems, night vision devices, multi-purpose communication systems (VCS), IFF interrogators, LRFs , X-ray tubes, radar fingerprinting systems, ESM systems, V/UHF search receivers, shelters, printed circuit assemblies, wire harness components and mechanical assemblies.
The market capitalization of BEL is Rs 1,98,277.75 crore, according to the BSE.
At 10:06 am, BEL stock was trading 1.46 per cent higher at Rs 271.25 per share. In comparison, BSE Sensex was trading 0.16 percent higher at 81,179.29 levels.
First publication: October 8, 2024 | 10:11 a.m. STI