Buy Bharat Electronics; target of Rs 135: Sharekhan
Sharekhan is bullish on Bharat Electronics has recommended buy rating on the stock with a target price of Rs 135 in its research report dated August 28, 2020.
August 31, 2020 / 12:48 PM IST
Sharekhan's research repor on Bharat Electronics
BEL would deliver a strong performance in the coming years, given its strong order book (4.2x its FY2020 revenue), major beneficiary from increasing emphasis on indigenisation, and limited competition. We believe BEL’s continued focus on enhancing the R&D capability would enhance the company’s capabilities to participate in the upcoming business opportunities.
We retain our Buy rating on Bharat Electronics Limited (BEL) with a revised price target to Rs. 135 on account of improving growth visibility. Series of reforms such as import ban of defence items, 74% FDI through the automatic route, and strategic partnership model would open up future avenues for BEL’s growth.
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