Bharat Electronics scales record high on robust Q3 results

Bharat Electronics jumped 6.67% to Rs 3,432 at 11:00 IST on BSE after the company's net profit rose 41.8% to Rs 271.81 crore on 34.9% growth in net sales to Rs 1581.66 crore in Q3 December 2014 over Q3 December 2013.

The Q3 result was announced after market hours on Friday, 23 January 2015.

Meanwhile, the S&P BSE Sensex was up 93.86 points or 0.32% at 29,369.26.

On BSE, so far 49,658 shares were traded in the counter as against average daily volume of 38,346 shares in the past one quarter.

The stock hit a high of Rs 3,570, also a record high for the stock. The stock hit a low of Rs 3,390 so far during the day. The stock had hit a 52-week low of Rs 895 on 4 February 2014.

The stock had outperformed the market over the past one month till 23 January 2015, gaining 17.73% compared with Sensex's 6.44% rise. The scrip had also outperformed the market in past one quarter, jumping 56.39% as against Sensex's 9.04% rise.

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

Bharat Electronics' board of directors at its meeting held on Friday, 23 January 2015, declared interim dividend of Rs 6 per share for the year ending 31 March 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. BEL is among an elite group of public sector undertakings which have been conferred the Navratna status by the Government of India.

The Government of India holds 75.02% stake in the firm as at 31 December 2014.

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