Bharat Electronics Gets Orders Worth Rs 577 Crore
Following these orders, BEL's total accumulated orders during the current financial year stand at Rs 13,724 crore.
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Bharat Electronics Ltd. has secured additional orders worth Rs 577 crore since Feb. 20, according to an exchange filing on Thursday.
The major orders include airborne electronic warfare products, advanced composite communication system for submarines, doppler weather radar, train communication system and radar upgradation, it said.
Following these orders, BEL's total accumulated orders during the current fiscal stand at Rs 13,724 crore, the filing added.
On Feb. 20, BEL bagged orders worth Rs 1,292 crore, including Rs 1,034 crore from the Ministry of Defence to supply software-defined radios and data communication terminals for the Indian Coast Guard.
On Wednesday, the company announced a dividend of Rs 1.5 per share for the current fiscal. BEL's board has also set March 11 as the record date for payment of interim dividend, a separate filing by the firm said.
The Navratna PSU reported a 53% increase in its net profit to Rs 1,311 crore for the quarter that ended in December. During the same period, it posted a 39% year-on-year jump in revenue to Rs 5,771 crore.
Shares of BEL closed 0.72% lower at Rs 272.95 apiece on the National Stock Exchange, compared to a 0.93% advance in the benchmark Nifty. The stock has risen 29.70% in the last 12 months.
Out of the 26 analysts tracking the company, 23 have a 'buy' rating on the stock, one recommends 'hold' and two suggest 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 25.1%.
