Shares of Bharat Electronics Ltd (BEL) were in focus on October 8 after the defense PSU announced it had secured additional orders worth over Rs 500 crore since its previous update on September 11. The new contracts include a variety of key defense projects, such as electromagnetic interference (EMI) shelters, maintenance for air command systems, and spares for radar and communication systems.
With these latest orders, BEL’s order book for FY25 has grown to Rs 7,689 crore. The company aims for a total order inflow of Rs 25,000 crore in the financial year.
International brokerage Macquarie continues to maintain an “outperform” rating on BEL, with a price target of Rs 350, indicating a potential 26% upside from its previous close.
Despite recent order wins, BEL shares have faced selling pressure, slipping 7% in the last five sessions after being added to the Nifty50 index. However, the stock has still gained 44% this year, outperforming Nifty’s 15% rise. Investors remain optimistic about BEL’s growth potential driven by its strong order book and upcoming contracts.
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Source: Moneycontrol
News Desk
