Bharat Electronics slips after weak Q3 outcome

Bharat Electronics fell 3.10% to Rs 969.80 at 14:17 IST on BSE after net profit fell 2.96% to Rs 191.74 crore on 18.29% decline in total income to Rs 1303.11 crore in Q3 December 2013 over Q3 December 2012.

The company announced the results during trading hours today, 24 January 2014.

Meanwhile, the BSE Sensex was down 199.81 points, or 0.93%, to 21,173.85.

On BSE, so far 4,028 shares were traded in the counter, compared with an average volume of 3,209 shares in the past one quarter.

The stock hit a low of Rs 961.10 so far during the day, which is also a 52-week low for the counter. The stock hit a high of Rs 1,008.95 so far during the day. The stock hit a 52-week high of Rs 1,375 on 10 June 2013.

The stock had underperformed the market over the past one month till 23 January 2014, rising 0.74% compared with the Sensex's 1.29% rise. The scrip had underperformed the market in past one quarter, falling 8.12% as against Sensex's 2.92% rise.

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

Bharat Electronics (BEL) 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 have been conferred the Navratna status by the Government of India.

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