BEL shares hit 52-week high on healthy order book; here's what Morgan Stanley suggests
BEL new order: All the equipment manufactured by BEL is part of Aatmanirbhar Bharat's programme, the company added in the filing. With the above, cumulatively, BEL has received orders worth Rs 18,298 crore in the current financial year.
BEL share price NSE, BEL share price target, BEL new order: Bharat Electronics, NSE: BEL shares were on investors' radar on Thursday, December 6, after the aerospace and defence electronics PSU company informed bourses it has bagged multiple orders worth Rs 3,915 crore since September 15, 2023. Bharat Electronics shares gained by as much as 3.6 per cent to clock a 52-week high of Rs 161.8 apiece, surpassing an earlier peak of Rs 157.5 on NSE. The counter ended 2.59 per cent higher at Rs 160.2 on NSE.
BEL informed the exchanges in its regulatory filing on December 7 about the bagged orders. The filing read, "The company has also received additional orders worth Rs 3,335 crore since the last disclosure on September 15, 2023, and the said orders pertain to artificial magnetic conductors (AMC) for the AEW&C system (Airborne Early Warning & Control), uncooled TI sights, software-defined radios, SWIR payload, AMC for IACCS, passive night vision binoculars, etc.
All the equipment manufactured by BEL is part of Aatmanirbhar Bharat's programme, the company added in the filing. With the above, cumulatively, BEL has received orders worth Rs 18,298 crore in the current financial year.
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BEL share price target: Here's what Morgan Stanley makes of the development
Morgan Stanley has retained an overweight rating on Bharat Electronics. The global brokerage has placed the target price at Rs 164. "With these order wins, the total order inflow for F24 to date is Rs 182.98, 91 per cent of guidance," the brokerage added.
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04:09 PM IST