Bharat Electronics gains on strong order book position

Bharat Electronics rose 1.28% to Rs 1,734 at 10:32 IST on BSE after the company said its order book stood at Rs 23200 crore as on 1 April 2014.

The announcement was made after trading hours on Tuesday, 3 June 2014.

Meanwhile, the BSE Sensex was flat at 24,858.45.

On BSE, so far 4,364 shares were traded in the counter, compared with an average volume of 16,240 shares in the past one quarter.

The stock hit a high of Rs 1,750 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 1,712 so far during the day. 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 3 June 2014, rising 40.92% compared with 10.96% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 85.34% as against Sensex's 18.68% rise.

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

Bharat Electronics said it bagged fresh orders worth Rs 4230 crore in the year ended 31 March 2014 (FY 2014). Bharat Electronics said that the company has signed a Memorandum of Understanding for a turnover of Rs 6850 crore during the year ending 31 March 2015 (FY 2015). The company disclosed this information in a presentation to investors.

Net profit of Bharat Electronics rose 11.90% to Rs 663.24 crore on 12.05% rise in net sales to Rs 3055.96 crore in Q4 March 2014 over Q4 March 2013.

Bharat Electronics meets the specialised electronic needs of the Indian defence services. BEL is among an elite group of public sector undertakings which have been conferred the Navratna status by the Government of India.

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