Bharat Electronics: Brokerage Motilal Oswal Navaratna Company is very bullish on the performance of shares of Bharat Electronics (BEL). The brokerage house believes that the share price of the company will increase in the near future. In such a situation, this stock can reach the level of 360 rupees. Motilal Oswal says that the shares of the state-owned company are likely to rise by 27.5 percent. Let us tell you that Bharat Electronics has been given a buy tag for this stock.
Motilal Oswal said in his report, “Many large platform orders may be finalized in the next 1 to 3 years. We hope that the defense company will benefit greatly from this. We expect Bharat Electronic's market share to increase in the coming years. It will grow faster than the growth of the defense sector.
BEL is the leader in the defense electronics market. The company has 60 percent market share in this sector. The company has consistently improved its revenue across the defense market.
With the second quarter results of the current financial year, BEL has posted Rs. A work order target of 250 billion was set. To date, the company has received Rs. 100 billion work has been done. By the last quarter, the company had Rs. 150 billion is expected to complete the remaining work. It mainly consists of radar, EW suite, Atuliya and Shakti EW projects. Negotiations on these projects are in their final stages. It is expected to be finalized by the end of this half year.
Share price of Bharat Electronics Limited saw an increase on Friday. Shares of the company rose over 2 percent at market close to Rs. closed at 282.15.
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