Bharat Electronics gains after strong Q1 result

Bharat Electronics rose 1.59% to Rs 181.80 at 12:14 IST on BSE after net profit surged 247.24% to Rs 125.32 crore on 98.36% growth in net sales to Rs 1694.55 crore in Q1 June 2017 over Q1 June 2016.

The result was announced after market hours yesterday, 31 July 2017.

Meanwhile, the S&P BSE Sensex was up 0.69 points at 32,515.63

On the BSE, 4.51 lakh shares were traded on the counter so far as against the average daily volumes of 4.31 lakh shares in the past one quarter. The stock hit a high of Rs 187.40 in intraday trade so far, which is record high for the counter. The stock had hit a low of Rs 181.20 so far during the day. The stock had hit a 52-week low of Rs 119.05 on 14 September 2016.

The stock had outperformed the market over the past one month till 31 July 2017, rising 10.91% compared with 5.15% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 2.32% as against Sensex's 8.67% rise. The scrip had also outperformed the market in past one year, surging 44.4% as against Sensex's 16.11% rise.

The large-cap company has equity capital of Rs 223.36 crore. Face value per share is Re 1.

Bharat Electronics' order book as on 1 July 2017 stood at Rs 41052 crore.

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 68.18% stake in Bharat Electronics (as per the shareholding pattern as on 30 June 2017).

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