Bharat Electronics gains after decent Q3 results

Bharat Electronics rose 3.17% to Rs 1,246.25 at 14:17 IST on BSE after net profit rose 8.79% to Rs 295.70 crore on 4.01% decline in total income to Rs 1652.70 crore in Q3 December 2015 over Q3 December 2014.

The result was announced during trading hours today, 27 January 2016.

Meanwhile, the BSE Sensex was up 40.17 points, or 0.16%, to 24,526.12.

On BSE, so far 94,000 shares were traded in the counter, compared with an average volume of 29,444 shares in the past one quarter. The stock hit a high of Rs 1,309.70 and a low of Rs 1,216 so far during the day. The stock hit a record high of Rs 1,416.70 on 4 January 2016. The stock hit a 52-week low of Rs 974.03 on 28 April 2015. The stock had underperformed the market over the past one month till 25 January 2016, falling 8.27% compared with 5.24% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, sliding 0.72% as against Sensex's 10.87% fall.

The large-cap company has an equity capital of Rs 240 crore. Face value per share is Rs 10.

Bharat Electronics 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.

The Government of India held 75.02% stake in Bharat Electronics (as per the shareholding pattern as on 31 December 2015).

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