Large Cap Defence PSU Stock Gets Buy Call For Higher Return, Target Price 112: Sharekhan

Sharekhan by BNP Paribas has recommended investors to buy multibagger defence PSU stock, Bharat Electronics Ltd with a target price of Rs 112 apiece. The current market price of the stock is Rs 102.80 apiece with an intraday fall of 0.10%.

The analyst has suggested to keep the stop loss at Rs 99.50. The large cap stock has rallied 48% in last 1-year only and declined 2.83% in last 3-months. If you buy Bharat Electronics Ltd now, you will get 10% upside. Check details below:

1. Bharat Electronics Ltd Stock Performance

The current market price of Bharat Electronics Ltd is Rs 102.80 apiece. Its 52-week high is Rs 115.00 apiece and 52-week low is Rs 62.24 apiece, respectively. The company has a market capitalisation of Rs 75,071 crore.

2. Bharat Electronics Ltd Return

The stock has given strong returns over the years. In last 1-year, it has given 48% return, 184% return in last 3-years, and 81% return in last 5-years. It has rallied nearly 4% in last 1-month and declined a little over 2% in last 3-months.

It declared its consolidated total income for the quarter ended September 30, 2022 at Rs 4035.38 crore, up 25.21% from previous quarter total income of Rs 3,222.82 crore.

3. About Bharat Electronics Ltd

BEL is among the elite group of Public Sector Undertakings, which has been conferred the Navratna status. Bharat Electronics Limited (BEL) was set up at Bangalore by the Government of India under the Ministry of Defence in 1954 to meet the specialised electronic needs of the Indian defence services.

BEL has been doing its bit to promote the Government's Make in India initiative by laying strong thrust on in-house R&D and indigenisation, outsourcing from Indian private industries, Public-Private Partnerships, Joint Ventures, capacity expansion and modernisation. The company has created a 'Make in India Cell' to implement its outsourcing policy, according to its official website.

Disclaimer

The stock has been picked from the brokerage report of Sharekhan by BNP Paribas. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.