Bharat Electronics gains after liberal bonus, strong Q1 result

Bharat Electronics rose 1.18% to Rs 3,717 at 12:37 IST on BSE, after the company announced liberal bonus and strong Q1 result.

The announcement was made on Saturday, 25 July 2015.

Meanwhile, the S&P BSE Sensex was down 360.05 points or 1.28% at 27,752.26

On BSE, so far 54,756 shares were traded in the counter as against average daily volume of 22,794 shares in the past one quarter.

The stock hit a high of Rs 3,943 and a low of Rs 3,692.60 so far during the day. The stock had hit record high of Rs 4,140 on 18 February 2015. The stock had hit a 52-week low of Rs 1,721 on 1 August 2014.

The stock had underperformed the market over the past one month till 24 July 2015, rising 9.17% compared with Sensex's 1.38% rise. The scrip had also outperformed the market in past one quarter, gaining 17.57% as against Sensex's 2.46% gain.

The large-cap PSU firm has equity capital of Rs 80 crore. Face value per share is Rs 10.

Bharat Electronics' board at its meeting held on Saturday, 24 July 2015, approved issue of bonus shares of the company in the ratio of 2:1 (2 bonus shares for each share held).

Bharat Electronics' net profit rose 137% to Rs 60.70 crore on 7.3% rise in net sales to Rs 1069.21 crore in Q1 June 2015 over Q1 June 2014. The result was announced on Saturday, 25 July 2015.

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 holds 75.02% stake in the firm as at 30 June 2015.

Powered by Capital Market - Live News