Macquarie has reiterated its outperform rating on Bharat Electronics Limited (BEL) with a target price of ₹350, representing a 19.5% upside from the current market price of ₹292.90. The firm highlights that BEL is on track to meet its FY25 guidance, with H2 order inflows being a crucial focus.
The existing order backlog is expected to support growth trends, but supply chain challenges remain a key factor to monitor. Investors will closely watch post-Q2 management commentary for updates on the pipeline of orders and any further insights into supply chain developments.
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