Bharat Electronics (BEL), a leading defence PSU stock, has slipped by nearly 4% in 5-trading session of May 2024, tracking overall slide in PSU stocks. On May 7th, the stock dropped below Rs 230 hurdle, however, its YTD performance is in gains to the tune of 23%. The latest drop in BEL brings buy-on-dips opportunity as its 1-year average target price is of Rs 280.
BEL shares will be in focus this month due to its Q4 results and recommendation of final dividend.
As per its regulatory filing, BEL said, "We wish to inform that a meeting of the Board of Directors of the Company is scheduled to be held on Monday, the 20*h May, 2024 to consider and approve, inter alia, Audited Standalone & Consolidated Financial Results for the quarter and year ended 31S1 March, 2024 and also to consider recommendation of final Dividend for the financial year 2023-24, if any."
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