Bharat Electronics has target of Rs 1700: Rajesh Jain

Bharat Electronics has target of Rs 1700, says Rajesh Jain, Independent Mkt Strategist.

Jain told CNBC-TV18, "Bharat Electronics is a combination play on the budget focus on defense. The capital goods capabilities of this company and its relative low beta, thereby giving you a certain amount of protection against the wild swings in the market. It has intraday target of Rs 1,700." The company's trailing 12-month (TTM) EPS was at Rs 69.48 per share. (Dec, 2010). The stock's price-to-earnings (P/E) ratio was 23.96. The latest book value of the company is Rs 543.21 per share. At current value, the price-to-book value of the company was 3.07. The dividend yield of the company was 1.15%.