Bharat Electronics Ltd. share price rose to a new high in Tuesday's session as the company received an additional order worth Rs 528 crore. This the first additional order after June 5 when the company received another additional order worth Rs 585 crore.
The additional order is for radars, communication equipment, EVMs, jammers, shelters, control centre, spares, services etc., the company said in the exchange filing.
The previous additional order is for fire control and sighting system for missiles, communication equipment, jammers, spares, services etc.
Bharat Electronics share price has been rising for four days in a row. In four days to Tuesday's session, it has risen 5.61%.
Bharat Electronics share price advanced 3.44% to a record high of Rs 436 apiece. The share price pared some gains to trade 2.94% higher at Rs 433.90 apiece as of 10:23 a.m., as compared to 0.04% advance in the NSE Nifty 50 index.
The stock advanced 41.02% in 12 months, and 48.01% on year-to-date basis. Total traded volume so far in the day stood at 2.0 times its 30-day average. The relative strength index was at 74.31 which implied the stock is slightly overbought.
Out of 28 analysts tracking the company, 24 maintain a 'buy' rating, one recommends a 'hold' and three suggests to 'sell', according to Bloomberg data. The average 12-month consensus price target implies a downside of 6.1%.
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