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    Buy Bharat Electronics, target price Rs 125: ICICI Securities

    Synopsis

    Bharat Electronics, incorporated in the year 1954, is a Large Cap company (having a market cap of Rs 73682.57 Crore) operating in Defence sector.

    Buy Bharat ElectronicsAgencies
    Promoters held 51.14 per cent stake in the company as of 31-Mar-2023, while FIIs owned 16.42 per cent, DIIs 25.42 per cent.
    ICICI Securities has buy call on Bharat Electronics with a target price of Rs 125. The current market price of Bharat Electronics is Rs 100.85.

    Bharat Electronics, incorporated in the year 1954, is a Large Cap company (having a market cap of Rs 73682.57 Crore) operating in Defence sector.

    Bharat Electronics key Products/Revenue Segments include Electronic Components & Equipments, Sale of services, Other Operating Revenue, Scrap and Rent for the year ending 31-Mar-2022.

    Financials
    For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 4211.76 Crore, up 4.37 % from last quarter Total Income of Rs 4035.38 Crore and up 11.97 % from last year same quarter Total Income of Rs 3761.56 Crore. Company has reported net profit after tax of Rs 603.01 Crore in latest quarter.

    The company’s top management includes Mr.Dinesh Kumar Batra, Mr.Gokulan Bangakandy, Mr.Shivnath Yadav, Mr.Prafulla Kumar Choudhury, Dr.N Santhoshkumar, Mr.Mansukhbhai S Khachariya, Dr.Binoy Kumar Das, Dr.P V Parthasarathi, Mr.Anurag Bajpai, Mr.Bhanu Prakash Srivastava, Mr.M V Rajasekhar, Mr.Vinay Kumar Katyal, Mrs.Anandi Ramalingam, Mrs.Shyama Singh. Company has Guru & Jana as its auditors. As on 31-03-2023, the company has a total of 731 Crore shares outstanding.

    Investment Rationale
    BEL is the primary beneficiary of the MoD’s(Ministry of Defence) orders worth Rs442bn in late Mar-23.

    Promoter/FII Holdings
    Promoters held 51.14 per cent stake in the company as of 31-Mar-2023, while FIIs owned 16.42 per cent, DIIs 25.42 per cent.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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