Hold Bharat Electronics; target of Rs 1290: Axis Direct

Axis Direct recommended hold rating on Bharat Electronics with a target price of Rs 1290 in its research report dated November 01, 2016.

November 08, 2016 / 17:39 IST

live

bselive
nselive

Volume

Todays L/H

Axis Direct's research report on Bharat Electronics

Bharat Electronics’ (BEL) Q2FY17 results were a strong beat versus expectations on all fronts, driven by strong execution (slip in Q1 revenue was covered up). Even order inflow at Rs 41 bn (up 108% YoY) was much above expectation. However, given the lumpy nature of business (booked order for Electronic Warfare Suite in Q2), strong order inflow in H1 could lead to weak order inflow in H2. Order backlog at end of Q2 was Rs 347 bn, up 60% YoY.

Our TP stands at Rs 1,290 (18x FY18E). We have a HOLD rating on the stock.For all recommendations, click here Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

first published: Nov 8, 2016 05:39 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347