Sharekhan is bullish on Bharat Electronics has recommended buy rating on the stock with a target price of Rs 140 in its research report dated September 16, 2019.
Sharekhan's research report on Bharat Electronics
Bags Akash Missile System order worth Rs. 5,357 crore from MoD, GoI, to be delivered in three years. Cumulative order intake for FY2020 till date increases to Rs. 7,342 crore, but it is lower by around 50% against H1FY2019 (owing to LRSAM order intake of Rs. 9,200 crore in Q2FY2019). Robust order book of Rs. 51,715 crore, at 4.3x its FY2019 revenue provides healthy revenue visibility.
We reiterate our Buy rating on Bharat Electronics Limited (BEL) with an unchanged PT of Rs. 140.
For all recommendations report, click here
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