PSU stock under Rs 300, UP 23% in a week declares FLYING result – BUY?

Updated May 24, 2024 | 11:49 PM IST

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BEL share price target 2024: BEL net profit up 30% in Q4 FY24.

BEL share price target 2024: Bharat Electronics Limited (BEL) stocks have up 23.1% in the past one week. BEL stock settled at Rs 297.10 apiece with a gain of 3.02%, May 24, against the previous day close at Rs 288.40 apiece.

BEL share price target 2024

Anand Rathi in its May 23 report remained bullish on the back of 32.2% YoY jump in revenue at Rs 85,641 crore on a consolidated basis.

The brokerage firm expects BEL to see strong growth; therefore it maintains ‘buy’ rating on the stock with a target price of Rs 335 apiece.

“For FY25, company expects order acquisition in the range of ₹ 2,50,000 million excluding the QRSAM orders. Revenue growth to be in double digits of 15% and EBITDA margins in the range of 23%-25% for FY25. The company is working on developing new products in all its product domains and is targeting at least 7% to 8% of its turnover going for R&D,” the brokerage added.

BEL share price todayBEL stock opened at Rs 288.95 apiece, May 24, reaching a high of Rs 299.95 apiece and a low of Rs 286 apiece.

BEL market cap

The defence PSU has a market cap of Rs 2.17 lakh crore. The stock has a face value of Rs 1 each.

BEL dividend history

BEL has a consistent record of rewarding its shareholders through dividend. The Company announced interim dividend of Rs 0.70 per equity in 2024. Earlier, it declared final dividend of Rs 0.60 per equity in 2023 and interim dividend of Rs 0.60 per equity in 2023.

BEL Q4 2024 results highlights

BEL’s revenue for Q4 Fy24 stood at Rs 8,528.54 crore, against Rs 4,136 crore in Q3 FY24. The net profit of the Company remained at Rs 1,783.52 crore in Q4 FY24.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)

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