Bharat Electronics scales fresh peak after posting good Q2 results

Bharat Electronics gained 4.36% to Rs 183.10 at 10:40 IST on BSE after net profit rose 19.1% to Rs 412.39 crore on 46.1% rise in net sales to Rs 2431.73 crore in Q2 September 2017 over Q2 September 2016.

The result was announced after market hours yesterday, 30 October 2017.

Meanwhile, the S&P BSE Sensex was down 74.04 points or 0.22% at 33,197.13.

Huge volumes were witnessed on the counter. On the BSE, 26.66 lakh shares were traded on the counter so far as against the average daily volumes of 3.01 lakh shares in the past one quarter. The stock had hit a high of Rs 192.50 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 182 so far during the day. The stock had hit a 52-week low of Rs 109.51 on 9 November 2016.

The large-cap company has equity capital of Rs 245.70 crore. Face value per share is Re 1.

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 67.94% stake in Bharat Electronics (as per the shareholding pattern as on 30 September 2017).

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