Strong Q2 results boosts Bharat Electronics

Bharat Electronics rose 2.9% to Rs 1,252.65 at 12:12 IST on BSE after net profit jumped 40.68% to Rs 206.75 crore on 14.28% growth in total income to Rs 1605.25 crore in Q2 September 2015 over Q2 September 2014.

The result was announced after market hours yesterday, 29 October 2015.

Meanwhile, the S&P BSE Sensex was up 93.91 points or 0.35% at 26,932.05.

On BSE, so far 39,000 shares were traded in the counter as against average daily volume of 66,854 shares in the past one quarter.

The stock hit a high of Rs 1,268 and a low of Rs 1,237 so far during the day. The stock had hit record high of Rs 1,386.65 on 4 August 2015. The stock had hit a 52-week low of Rs 673.33 on 29 October 2014.

The stock had outperformed the market over the past one month till 29 October 2015, surging 6.1% compared with the Sensex's 4.11% rise. The scrip had, however, underperformed the market in past one quarter, sliding 6.86% as against Sensex's 2.63% fall.

The large-cap company has equity capital of Rs 240 crore. Face value per share is Rs 10.

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 75.02% stake in Bharat Electronics (as per the shareholding pattern as on 30 September 2015).

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