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Apr 30, 2009, 03.02 PM IST
Sharekhan has recommended a buy rating on Bharat Electronics with a price target of Rs 1152. The company’s adjusted profit after tax (PAT) of Rs 559.4 crore implied a growth of 15.7% in Q4FY2009 on a year-on-year (y-o-y) basis.
Sharekhan has recommended a buy rating on Bharat Electronics with a price target of Rs 1152 in its April 27, 2009 research report.
"Bharat Electronics Ltd’s (BEL) Q4FY2009 performance was better than its flash results. The company’s adjusted profit after tax (PAT) of Rs 559.4 crore implied a growth of 15.7% in Q4FY2009 on a year-on-year (y-o-y) basis. BEL’s Q4FY2009 net sales increased by 19.3% year on year (yoy) to Rs 2,735 crore, accounting for 58% of the FY2009 net sales. We maintain our Buy recommendation on the stock with a price target of Rs 1,152," says Sharekhan's research report.
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