This multibagger aerospace and defence company bags mega orders worth Rs 8,091 crore; stock surge over 5 per cent!
The stock has an ROE of 22.80 per cent and a ROCE of 30.10 per cent with multibagger returns of 150 per cent in just 2 years and over 350 per cent in 3 years.
Bharat Electronics Ltd, a Navratna Defence PSU informed that the company receives orders worth Rs 8,091 crore. Details Below:
Order No-1: Received order for 2 regiments of improved Akash Weapon System (AWS) with BDL upgrades. The order is valued at Rs 3,914 crore.
Order No-2: Received orders for Shakti EW & Sanket MK III (Naval Systems), GBMES & GBVU Com Jammer systems, MKBT systems, IFF-MKXII Crypto Modules & Up gradation of SDP & Display of Rohini Radar, Training system for CMS P15B & CAMC of CMS for P 28 etc. The order is valued at Rs 1,984 crore.
Order No-3: Received orders for supply of Long-Range Guidance Kit with Warhead, Airborne V/UHF Jammer, Battlefield Surveillance Radar (Short Range) Upgrade, Missile Guidance Radar & Control Centre, Upgraded Radio Relay (F) with Data Modem Encryption Unit Mk II, Identify Friend or Foe Mk XII A, Anti-Submarine Warfare Shallow Water Craft (ASW SWC) Sonar and Spares. The order is valued at Rs 2,191 crore.
Additionally, the company’s order book as of April 1, 2023 stood at Rs 60,690 crore. Including the above orders, the company’s current order book stands at Rs 66,781 crore. Furthermore, the company declared a final dividend of Rs 0.60 per equity share (having a face value of Rs 1 each) on the enhanced share capital of the company post- bonus issue on Sept 15, 2022.
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On Friday, shares of Bharat Electronics Ltd (BEL) zoomed 5.05 per cent to an intraday high of Rs 126.70 per share from its previous closing of Rs 122.38. At, the closing bell shares of the company were trading at Rs 125.85, up 4.35 per share with a spurt in volume by more than 2.06 times on BSE.
The stock has an ROE of 22.80 per cent and a ROCE of 30.10 per cent with multibagger returns of 150 per cent in just 2 years and over 350 per cent in 3 years. This PSU Large-Cap stock should be kept under the radar.