BEL shares climb 3% as brokerages back post-results recovery
The stock had hit a 52-week low of ₹354.55 on October 23 but has since rebounded sharply, gaining 7.8 per cent over the past week, outpacing the Nifty 50’s 4.69 per cent return in the same period.
Shares of Bharat Electronics Limited (BEL) rose 3.13% to ₹392 on the NSE midday on Wednesday, following strong first-half results. Five brokerages maintained buy or add calls for the defence PSU, with the stock rebounding from a 52-week low of ₹354.55 in October. BEL's H1 FY27 revenue grew 25.97% to ₹12,824 crore, while profit after tax increased 14.81% to ₹2,589 crore.
The company's order book stood at ₹68,717 crore as of October 1, 2026. Nomura's bullish target of ₹530 points to large order wins and meeting FY27's ₹55,000 crore order intake target. Citi and UBS have buy targets of ₹515 and ₹500, respectively, citing potential QRSAM and Next Generation Corvette order opportunities. Jefferies targets ₹490, expecting QRSAM awards and growth from missiles and drones.
Kotak's more conservative add rating has a target of ₹420. The stock trades at a P/E of 43.41x, with upside projections ranging from 7% to 35% from the current price. The sell side remains dominant at 63%, indicating caution in the near term.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
