BEL Reports Highest Turnover In FY24, Drives Shares To Record High
The company's turnover rose 13.7% year-on-year to its highest-ever of Rs 19,700 crore in FY24, according to an exchange filing.
Bharat Electronics Ltd. gained over 4% to hit record high on Tuesday after it reported "highest-ever" turnover in FY24.
The company's turnover rose 13.7% year-on-year to its highest-ever of Rs 19,700 crore in FY24, according to an exchange filing.
The company's order book stands at Rs 76,000 crore as on April 1.
Shares of Bharat Electronics rose as much as 4.69% to Rs 221.00 apiece, the highest level since its listing on July 19, 2000. It was trading 4.57% higher at Rs 220.75 apiece as of 10:13 a.m. This compares to a 0.15% decline in the NSE Nifty 50 Index.
The stock has risen 128.00% in past 12 months. Total traded volume so far in the day stood at 4.2 times its 30-day average. The relative strength index was at 69.49.
Out of 26 analysts tracking the company, 17 maintain a 'buy' rating, six recommend a 'hold,' and three suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an downside of 2.2%.
