52-week high alert: This aerospace and defence company bags multiple new orders worth Rs 8,091 crore!

Shares of this company have gained more than 25 per cent in the last six months.

On July 11, 2023, shares of Bharat Electronics Limited made a fresh 52-week high, gaining 3.58 per cent on Tuesday. Over the past month, the company’s shares have gained about 6 per cent. On Tuesday, the stock opened at Rs 123.25, with a high and low of Rs 128.65 and Rs 123.25. The stock closed trading at Rs 127.40, showing a 3.58 per cent increase.     

Recently, the company received an order for 2 regiments of improved Akash weapon systems (AWS) with upgrades from BDL for a value of Rs. 3914 crores. And other significant orders worth Rs 1,984 crore.

The company also 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 worth Rs 2,191 crore.

The stock has also delivered multibagger returns to its shareholders, the company’s share price gaining from Rs 32.67 on July 17, 2020, to Rs 127.40 on July 11, 2023, representing an increase of about 290 per cent. The stock has exhibited tremendous growth and has provided multibagger returns to its shareholders over a three-year holding period. Investors should keep a close eye on this stock.