Bharat Electronics Secures Orders Worth Rs 1,385 Crore In Last Two Weeks
BEL's major orders include radar spares, electronic voting machines, advanced land navigation system and stabiliser for tanks, fire control system for ship-based decoys and communication equipment.
Bharat Electronics Ltd. has secured orders worth Rs 1,385 crore since March 12, taking the total value of accumulated orders to Rs 18,415 crore in the current financial year, according to an exchange filing on Thursday.
The public sector undertaking's major orders include radar spares, radar upgradation, electronic voting machines, simulators, advanced land navigation system and stabiliser for tanks, fire control system for ship-based decoys and communication equipment, it said.
On March 10, BEL declared its first interim dividend Rs 1.5 per equity share for the current fiscal. The dividend amount translates to 150% of the face value of the fully paid-up shares of Re 1 apiece.
Shares of BEL closed 0.75% higher at Rs 300.65 apiece on the National Stock Exchange, compared to a 0.45% advance in the benchmark Nifty. The share price has risen 50.74% in the last 12 months and 2.56% on a year-to-date basis.
Twenty-four out of the 27 analysts tracking the company have a 'buy' rating on the stock, one suggests 'hold' and two recommend 'sell', according to Bloomberg. The average of 12-month analysts' price targets implies a potential upside of 13.8%.
