High ROE and ROCE multibagger stock: This PSU company bags order worth Rs 3,800 crore and announced dividend!
Today, shares of the company saw a spurt in volume by more than 2.13 times on BSE.
BEL informed the exchanged that The Ministry of Defence (MoD) has signed two contracts worth of Rs 3800 crore with Bharat Electronics Ltd (BEL), a DPSU for supply of Medium Power Radar and Digital Radar Warning Receiver (RWR) for Indian Air Force. The Medium Power Radar (Arudhara) for Indian Air Force is the state-of-the-art 4D Surveillance Radar equipped with Active Aperture Phased Array Radar technologies based on Solid State TR Module Transmission.
These projects will add another milestone to the ‘Atmanirbhar Bharat Abhiyaan’ and ‘Make in India’ initiative of the Government of India.
The company also declared second interim dividend of Rs 0.60 (60 per cent) per equity share of a face value of Rs 1. The company verified the record date for interim dividend as Saturday, March 25, 2023.
Today, shares of Bharat Electronics Ltd (BEL) plunged 1.10 per cent to Rs 91.42 per share from its previous closing of Rs 92.44 with an intraday high of Rs 94.30 and a low of Rs 91.02.
BEL was established in 1954 in association with CSF, France (now, Thales), to meet the specialized electronic equipment requirements of the Indian Defence Services. Today, shares of the company saw a spurt in volume by more than 2.13 times on BSE.
The stock has an ROE of 21.95 per cent and a ROCE of 27.78 per cent with multibagger returns of 286.79 per cent in just 3 years. This PSU Large-Cap stock should be kept under radar.