Bharat Electronics gains after clocking a record turnover

Bharat Electronics rose 2.19% to Rs 1160 at 9:31 IST on BSE after the company said it reported a record turnover of Rs 6180 crore on provisional basis in the year ended 31 March 2014.

The company made the announcement after trading hours on Tuesday, 1 April 2014.

Meanwhile, the BSE Sensex was up 57.51 points, or 0.26%, to 22,503.95.

On BSE, so far 1,163 shares were traded in the counter, compared with an average volume of 5,724 shares in the past one quarter.

The stock hit a high of Rs 1,163 and a low of Rs 1,150 so far during the day. The stock hit a 52-week high of Rs 1,375 on 10 June 2013. The stock hit a 52-week low of Rs 895 on 4 February 2014.

The stock had outperformed the market over the past one month till 1 April 2014, rising 22.46% compared with the Sensex's 6.28% rise. The scrip had also outperformed the market in past one quarter, rising 11.30% as against Sensex's 6.18% rise.

The mid-cap company has an equity capital of Rs 80 crore. Face value per share is Rs 10.

State-run Bharat Electronics said that the company reported a record turnover of Rs 6180 crore on provisional basis for the year ended 31 March 2014 (FY 2014), against turnover of Rs 6012 crore in the year ended 31 March 2013 (FY 2013).

The company said its exports jumped 27.21% to $41.70 million in FY 2014 over FY 2013. With a healthy order book of around Rs 23200 crore, the company is all set to continue its good run in the current financial year, Bharat Electronics said.

Bharat Electronics' net profit fell 2.96% to Rs 191.74 crore on 18.29% decline in total income to Rs 1303.11 crore in Q3 December 2013 over Q3 December 2012.

Bharat Electronics (BEL) was established at Bangalore, India, by the Government of India under the Ministry of Defence in 1954 to meet the specialised electronic needs of the Indian defence services. Over the years, it has grown into a multi-product, multi-technology, multi-unit company servicing the needs of customers in diverse fields in India and abroad. BEL have been conferred the Navratna status by the Government of India.

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