Bharat Electronics (BEL), which is down 40 per cent from its November highs, fell on Wednesday to levels last seen in December 2014. While the broader markets have trended down too, BEL has underperformed significantly on the back of weak execution-led performance and worries of an earnings miss in FY20. The government’s stake-sale overhang too had kept Street concerns elevated.
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First Published: Thu, March 05 2020. 20:36 IST