Buy Bharat Electronics; target of Rs 135: ICICI Direct

The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.

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26 Aug, 2025 12:21

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ICICI Direct's research report on Bharat Electronics

Bharat Electronics (BEL) is a leading aerospace and defence electronics company. It primarily manufactures advanced electronics products. Multi-product, multi-technology- diverse product range including radar, missile systems, electronic warfare & avionics, anti-submarine warfare, electro-optics, homeland security, civilian products, etc • Focus to increase the non-defence share to ~20% over two to three years.

Outlook

Hence, we revise our target price to Rs 135/share post this corporate action. We maintain our BUY rating on the stock and value Bharat Electronics based on 30x P/E on FY24 EPS.

More Info

At 15:50 hrs Bharat Electronics was quoting at Rs 111.20, up Rs 0.15, or 0.14 percent.

It has touched an intraday high of Rs 113.60 and an intraday low of Rs 109.50.

It was trading with volumes of 567,428 shares, compared to its thirty day average of 1,092,679 shares, a decrease of -48.07 percent.

In the previous trading session, the share closed down 0.82 percent or Rs 0.92 at Rs 111.05.

The share touched its 52-week high Rs 115.00 and 52-week low Rs 61.15 on 15 September, 2022 and 29 October, 2021, respectively.

Currently, it is trading 3.3 percent below its 52-week high and 81.85 percent above its 52-week low.

Market capitalisation stands at Rs 81,284.74 crore.

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Bharat Electronics - 160922 - icici