PSU Defence Company BEL Bags 3000 Crore Order, To Pay Final Dividend Soon

Large cap public sector undertaking (PSU), Bharat Electronics Ltd (BEL) on September 15, 2023 bagged order worth Rs 3000 crore from Cochin Shipyard for supply of various equipment. Last trading price of BEL share is Rs 135.70 per share with intraday fall of 0.77%. Bharat Electronics stock offered 11.28% return in last 3-months and 46% return in last 6-months. Check details below:

Bharat Electronics Receives Order From Cochin Shipyard: The PSU defence company stated in its BSE filing dated September 15, 2023, "Bharat Electronics Limited received an order of Rs.2,118.57 Crore from Cochin Shipyard Limited for supply of various equipments consisting of Sensors, Weapon equipment, Fire Control systems and Communication equipment for six numbers of Next Generation Missile Vessels (NGMV), class of anti-surface warfare corvettes for Indian Navy. This project will have participation of Indian electronics and associated industries, including MSMEs, which are sub vendors of BEL."

The Company has also received additional orders worth Rs.886 Crore since the last disclosure on 25th August, 2023 and the said orders pertain to Upgrade of AFNET SATCOM N/W, Upgrade of Akash Missiles with RF Seeker, Inertial Navigation System and other equipments with accessories and spares etc.

With this BEL has in all received orders worth Rs.14,384 Crore till now in the financial year 2023-24.

Bharat Electronics Declares Payment Date Of Final Dividend: Earlier this month on September 12, 2023 the company declared the payment date for final dividend of 0.60/- (60%) per equity share of Re 1/- each announced at the 69th AGM of the company held on August 28, 2023. The payment date of the final dividend to eligible shareholders is September 25, 2023.

Bharat Electronics Stock Outlook & Return: Last trading price of BEL share is Rs 135.70 on BSE. Its 52-week high price is Rs 147.20 per share and 52-week low price is Rs 87.00 per share, respectively. The company has a market capitalisation of Rs 99,193.70 crore.

Bharat Electronics stock offered 22% return in last 1-year, gained 96% in last 2-years, and offered 288% return in last 3-years.

Bharat Electronics About: Bharat Electronics Limited (BEL) is a Navratna PSU under the Ministry of Defence, Government of India. It manufactures state-of-the-art electronic products and systems for the Army, Navy and the Air Force. BEL has also diversified into various areas like homeland security solutions, smart cities, e-governance solutions, space electronics including satellite integration, energy storage products including e-vehicle charging stations, solar, network & cyber security, railways & metro solutions, airport solutions, Electronic Voting Machines, telecom products, passive night vision devices, medical electronics, composites and software solutions, according to its official website.

Disclaimer: The stock just highlights the dividend, order received and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for ay losses. Please consult a professional advisor.