BEL shares up 1.2% as Nifty drops

NEW DELHI: Shares of Bharat Electronics Ltd. traded 1.2 per cent up in Thursday's trade at 10:10AM (IST). Around 232,633 shares changed hands on the counter.

The stock opened at Rs 108.35 and touched an intraday high and low of Rs 110.8 and Rs 108.35, respectively, in the session so far. The stock of Bharat Electronics Ltd. quoted a 52-week high of Rs 115.0 and a 52-week low of Rs 73.29.

Total market cap of the Bharat Electronics Ltd. stood at Rs 80590.31 crore at the time of writing this report.

Key Financials
The company reported consolidated sales of Rs 6545.28 crore for the quarter ended 31-Mar-2023, up 55.4 per cent from previous quarter's Rs 4211.76 crore and up 2.21 per cent from the year-ago quarter's Rs 6403.75 crore.

The net profit for latest quarter stood at Rs 1382.02 crore, up 19.74 per cent from the same quarter a year ago.

Shareholding pattern
As of 31-Mar-2023, DIIs held 20.07 per cent stake in the company, while foreign institutional investors held 16.42 per cent and the promoters 51.14 per cent.


Valuation ratio
According to BSE data, the stock traded at a price-to-earnings multiple of 27.0 and a price-to-book ratio of 5.14. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Bharat Electronics Ltd. belongs to the Defence Contractor industry.