Bharat Electronics has target of Rs 2150

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Bharat Electronics has target of Rs 2150

Sumeet Patodia of Centrum Broking is of the view that Bharat Electronics has target of Rs 2150.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by Sumeet Patodia See what other Experts & Brokerages are saying about Bharat Elec See messages about Bharat Elec Bharat Elec BSE | NSE 28/05/12 Are Mutual Funds betting on Bharat Elec?

Sumeet Patodia of Centrum Broking is of the view that Bharat Electronics has target of Rs 2150.

Patodia told CNBC-TV18, "Bharat Electronics is one of the largest manufacturers and suppliers of wireless communication systems, radars, satellite communications, in the various defence sector equipment and civil telecommunication equipments. The company has recently won various awards and one of them being MTNL award for the Convergent Billing System and they are doing it in Delhi and Mumbai for around 3.5 million customers."

He further added, "Apart from that they have won CDMA Network Award, VSAT Network award. In fact it is one of the only PSU company to won an award for the VSAT Network to set in another country. The company has received for the eight consecutive 10th excellent rating from the government of India and the company at present has an order book of more than Rs 6000 crore which is around one and a half to two years total turnover of the company. At the same time the company has launched various new products like radar warning receiver, electronic Voting machine."

"The company has got the mandate from government of India to supply electronic voting machines for all the elections, whether it would be a state level elections or entire nation level elections. So going forward these sectors would provide great revenue to the company. When we talk about numbers, the company would be in a region to do a turnover of around Rs 4250 crore in the coming financial year giving it a net profit of around Rs 585 crore with an EPS of around Rs 73. So my target for this stock is around Rs 2150 to be achieved in the next 10-12 months giving it a price return of around 25%."