2:1 Stock Split & Rs 20,000 crore order book: President of India-backed multibagger aerospace & defence stock hit 52-week high on July 03

The company's shares have a PE of 100x, an ROE of 18 per cent and an ROCE of 24 per cent.

Today, the Indian stock market ended the day in green with the BSE Sensex Index up by 0.69 per cent and the NSE Nifty-50 Index up by 0.67 per cent. On the broader markets, the indices were trading in green with BSE Mid-Cap Index up 0.86 per cent and BSE Small-Cap Index up 0.86 per cent.

Along with the market in green, one multibagger stock backed by the President of India from the aerospace & defence sector jumped 4.90 per cent and made a fresh new 52-week high of Rs 1,674.90 per share from its previous closing of Rs 1,597 per share. At the closing bell, shares of the company were trading at Rs 1,632.45 per share, up 2.22 per cent with a spurt in volume by more than 4 times on BSE.

Recently, shares of the company ex-traded stock split in the ratio 2:1 i.e., the existing 1 equity share of the face value of Rs 10 each fully paid up shall be sub-divided/ split into 2 equity shares of the face value of Rs 5 each fully paid up. The record date was May 24, 2024.

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The stock name is Bharat Dynamics Ltd (BDL).

Established in 1970, Bharat Dynamics Ltd (BDL) is a Government of India enterprise that manufactures missiles, weapon systems, and related equipment for the Indian Armed Forces. They are the sole manufacturer and integrator of missiles and torpedoes for the Indian military, and their products include surface-to-air missiles, air-to-air missiles, and underwater weapons. BDL is continuously expanding its operations and capabilities, with new facilities and technology implementations underway.

The President of India owns the majority of the stake (74.93 per cent) while FIIs own 3.09 per cent, DIIs own 13.32 per cent and the public owns 8.66 per cent. The company has a market cap of over Rs 59,000 crore while its order book stands at over Rs 20,000 crore as of March 31, 2024. According to its Quarterly Results (Q4FY24), half-yearly results (H2FY24) and annual results (FY24), the company reported amazing numbers.

The company's shares have a PE of 100x, an ROE of 18 per cent and an ROCE of 24 per cent. The stock gave multibagger returns of 200 per cent in just 1 year and a whopping 800 per cent in 3 years.Investors should keep an eye on this mid-cap aerospace & defence stock.

Disclaimer: The article is for informational purposes only and not investment advice.