Bharat Electronics spurts after robust Q2 numbers

Bharat Electronics rose 7.83% to Rs 2,227.95 at 15:13 IST on BSE after net profit surged 147.24% to Rs 146.96 crore on 21.71% increase in total income to Rs 1404.66 crore in Q2 September 2014 over Q2 September 2013.

The result was announced during trading hours today, 7 November 2014.

Meanwhile, the BSE Sensex was down 69.50 points, or 0.25%, to 27,846.38.

On BSE, so far 66,000 shares were traded in the counter, compared with an average volume of 20,049 shares in the past one quarter.

The stock hit a high of Rs 2,250 and a low of Rs 2,077 so far during the day. The stock hit a record high of Rs 2,320 on 7 July 2014. The stock hit a 52-week low of Rs 895 on 4 February 2014.

The stock had underperformed the market over the past one month till 5 November 2014, rising 0.44% compared with 5.07% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 16.59% as against Sensex's 7.75% rise.

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

The government on 26 August 2014, notified increase in foreign direct investment (FDI) limit to 49% through approval route in the defence sector.

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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