One of the most anticipated stock splits took place on May 24. Defence PSU giant Bharat Dynamics (BDL) has finally split into the ratio of 1:2. Right after splitting, the stock witnessed stellar buying, gaining by 17% in a single day. The new stock price of BDL is near Rs 1,530, while 5 brokers have recommended BUY on the stock. The 1-year average target price is Rs 1,820 on BDL.
BDL Share Price:
BDL's share price ended at Rs 1527.50 apiece, up by 8.6% on BSE with a market cap of Rs 55,992.42 crore after market hours of May 24. During the ex-split day, BDL shares rallied to touch a new 52-week high of Rs 1,650 apiece, recording gains of 17.3% in a single day.
This defence stock is currently up by 239% from its 52-week low of Rs 450.50 apiece.
YTD, BDL shares are up by 77%.
BDL Stock Split:
BDL stock split into a 1:2 ratio, meaning, its existing 1 (One) Equity Share of the face value of Rs. 10/- (Rupees Ten Only) each fully paid up into 2 (Two) Equity Shares of the face value of Rs. 5/- (Rupees Five Only) each fully paid up.
The reason why BDL carried a stock split is to comply with DIPAM Guidelines on Capital Restructuring; To encourage wider participation of small investors, and To enhance the liquidity of the Equity Shares of the Company in the Stock Market.
The record date to determine eligible shareholders for the stock split was fixed on May 24, 2024.
BDL Share Price Target:
As per Trendlyne data, the consensus recommendation from 7 analysts for Bharat Dynamics Ltd. is BUY. Of the total, 4 experts have given 'STRONG BUY' while 1 expert has suggested 'BUY'. While 1 analyst has given 'HOLD' and 1 has given 'SELL' on the stock. EPS is expected to grow by 49.5% in FY24.
From the consensus of recommendation, the 1-year price target on BDL is Rs 1,820, suggesting a 19% potential upside from the current level.
BDL Upcoming Development:
BDL announced that a meeting of the Board of Directors of the Company will be held on Thursday, 30th May 2024, inter alia to consider and approve the Audited Financial Results of the Company for the quarter and year ended 31st March 2024.
Also, the final dividend, if any, for the financial year 2023-24 may be considered at the aforesaid Board Meeting. Earlier, last month, BDL paid an interim dividend of Rs 8.85 per share having a face value of Rs 10 each.
About BDL:
Bharat Dynamics Limited (BDL), was incorporated on 16 July 1970 in Hyderabad, Telangana as a Public Sector Undertaking under the Ministry of Defence, Government of India to be the manufacturing base for guided missile systems and allied equipment for the Indian Armed Forces. BDL became a listed company in March 2018 by listing its equity shares on the Bombay Stock Exchange and the National Stock Exchange. The Company has 2556 employees as of 31 March 2023 and achieved a sales turnover of Rs.2458 Crore (Provisional & Unaudited) for the financial year 2022-23.
BDL, since its inception, has been working in collaboration with DRDO & Foreign Original Equipment Manufacturers (OEMs) for the manufacture and supply of various missiles and allied equipment to the Indian Armed Forces.
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