Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
Live Now : Nifty Banker 3.0 | India's First Retail Index Traders Online Conference.
Budget 2023
Budget 2023
you are here: HomeNewsBusiness

Buy Bharat Electronics; target of Rs 152: Sharekhan

Sharekhan is bullish on Bharat Electronics has recommended buy rating on the stock with a target price of Rs 152 in its research report dated January 28, 2021.

January 29, 2021 / 07:13 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Sharekhan's research report on Bharat Electronics

Q3FY21 was an operationally strong quarter leading to higher net profit y-o-y. Revenues were flat y-o-y although lower than estimates. Management declared interim dividend of Rs. 1.40/- per equity share. Order book remains healthy at Rs. 54,791 crore (4.2x its TTM revenue), which provides sustainable revenue visibility; expect pickup in order intake during FY2022E. BEL is well-placed to benefit from rising defence expenditure supported by a strong manufacturing base, execution track record and continued focus on in-house R&D capabilities.

Outlook

We retain a Buy rating on Bharat Electronics Limited (BEL) with an unchanged price target of Rs. 152 considering reasonable valuations and strong execution capabilities.