BEL shares up 2.09% as Nifty drops

NEW DELHI: Shares of Bharat Electronics Ltd. traded 2.09 per cent up in Thursday's trade at 10:40AM (IST). Around 496,690 shares changed hands on the counter.

The scrip opened at Rs 141.0 and touched an intraday high and low of Rs 143.95 and Rs 140.85, respectively, in the session so far. Shares of the company of Bharat Electronics Ltd. quoted a 52-week high of Rs 147.2 and a 52-week low of Rs 87.0.

As per BSE, the total market cap of the Bharat Electronics Ltd. stood at Rs 104712.58 crore at the time of writing this report.

Key Financials
The company reported consolidated net sales of Rs 4146.12 crore for the quarter ended 30-Sep-2023, up 12.88 per cent from previous quarter's Rs 3673.17 crore and up 2.74 per cent from the year-ago quarter's Rs 4035.38 crore.

The net profit for latest quarter stood at Rs 789.35 crore, up 26.55 per cent from the corresponding quarter last year.

Shareholding pattern
As of 30-Sep-2023, domestic institutional investors held 18.85 per cent stake in the company, while foreign institutional investors held 17.18 per cent and the promoters 51.14 per cent.


Valuation ratio
According to BSE data, the stock traded at a P/E multiple of 31.51 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.