Bharat Electronics gains after foreign broker hikes target price
Bharat Electronics rose 2.01% to Rs 433.50 after a foreign brokerage raised its price target on the stock to Rs 508 from Rs 418.
The broker cited strong multi-year revenue visibility and a solid order book. It flagged BEL's order backlog and indigenisation levels of about 70%-73%. Key programmes in the pipeline include QRSAM and Kusha, which are largely indigenous.The brokerage also highlighted the Union Budgets 18% rise in defence capital expenditure for FY27 to Rs 2.2 lakh crore, with 75% of procurement earmarked for the domestic market, as a positive driver for the stock.
Bharat Electronics (BEL) is a Navratna PSU under the Ministry of Defence, Government of India. It manufactures electronic products and systems for the army, navy, and air force.
Its standalone net profit jumped 20.81% to Rs 1,590.06 crore on 23.72% rise in revenue from operations to Rs 7,121.98 crore in Q3 FY26 over Q3 FY25. The companys order book position stood at Rs 73,015 crore as of 1 January 2026.
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