Latest News
-
Ola Cabs Plans $500 Million IPO Amid Electric Vehicle Expansion -
Daily Relative Strength Index (RSI) In A Bullish Mode of This Pharma Stock; Buy For TP Rs 635-685 -
HDFC Bank Q4 Preview: Net Profit Likely To Grow 56% YoY; Credila Stake Sale To Fuel Earnings -
1:10 Split, Rs 299/Sh Dividend: Tata's Steel Stock Up 11% In 30-Days, Better Than Nifty; PL Says Accumulate -
625% Dividend, 1:10 Split, 3 Bonus; FMCG ITC Makes Big Acquisition Announcement; Stock Target Prices In April -
2:1 Bonus Issue: IT Penny Stock Turned; 1,600 Shares Market Lot Size Revised To 4,800 Shares -
FREE, FREE, FREE! 3:1 Bonus: Pharma Stock Hits Back-To-Back Upper Circuits; 500 Shares To Earn Rs 1,69,500 -
1:10 Stock Split: Below Rs 10, Fertilizer Sector Turned Ex-Split; 8,282% Returns In 5 Years -
Rs 17/Share Dividend: Record Date On April 26; Buy The ICICI Group Stock To Be Eligible? -
Honasa Consumer to Strengthen Operations by Merging Fusion Cosmeceutics and Just4Kids
This Navratna Defence Stock Declares A Good dividend of 60%, Should You Buy Stock Now?
Bharat Electronics, a large cap stock that has a track record of paying good dividends has announced a dividend of 60%. In a release to the exchanges the company stated, "the Board of Directors of the Company at its meeting held on 28th January, 2023, inter alia, has declared an interim dividend of Rs 0.60/- per equity share of Rs 1/- each fully paid-up (60%) for the financial year 2022-23."
Share price movement
This defence stock market price closed at Rs 94.30 on Friday, it was down by 4% on BSE. Its 52week low is at Rs 62.24. Bharat Electronics (BEL) is a leading aerospace and defence electronics company. It primarily manufactures advance electronics products. It has multi-product, multi-technology- diverse product range including radar, missile systems, electronic warfare & avionics, anti-submarine warfare, electro-optics, homeland security, civilian products, etc.
Dividend details
An interim dividend of Rs 0.60 per share for the year 2022-23 has been declared by the Board of Directors at the meeting held on 28th January 2023. Friday, the 10th February, 2023 is set as Record Date for the purpose of payment of interim dividend, is mentioned in the press release.
Also, note the financial press release stated that the EPS has been adjusted for all the previous reported periods due to issue of 4873185886 Bonus shares of Rs 1/ each in the ratio of 2:1, i.e., Two equity share for each fully paid-up equity share held, during the month of September 2022.
Should You Buy Now?
ICICI Direct in its report dated October 31, 2022 had a buy call on the stock. The brokerage stated that the company 's focus is to increase the non-defence share to 20% over two to three years. In the report, Q2FY23, order book details and few key triggers for future price performance were mentioned, "Strong order pipeline in FY23-24E and strong balance sheet, double digit returns ratios."
"We value BEL at Rs 135 i.e. 30x P/E on FY24E EPS," ICICI Direct had stated in its report earlier.
In the latest set of quarterly results announced by the company its operating revenue increased to Rs 4,153.12 crore from the previous quarter Rs 3,961.59.
Disclaimer
The stocks have been picked from the brokerage report of ICICI Direct, 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 consult with certified experts before making any investment decision.
