Bharat Electronics Limited (BEL) stock price is in focus as Jefferies maintains a ‘buy’ rating, setting a target price of ₹325, indicating a 17.68% upside from the current market price (CMP) of ₹276.20.
The brokerage highlights that BEL has announced ₹5.8 billion in orders so far and requires another ₹113 billion in March-April 2025 to meet its FY25E order inflow guidance of ₹250 billion. Notably, in FY23, BEL announced 83% of its order flow in March, successfully meeting its annual ₹200 billion target, which led to a 12-17% stock rally in the following months.
Jefferies sees rising global defense spending and government defense expenditure surging 87% YoY in January 2025 as near-term triggers for the stock. BEL’s management has reiterated its confidence in meeting FY25 guidance, reinforcing Jefferies’ positive outlook on the stock.
Disclaimer: The views and investment recommendations in this article are sourced from brokerage reports. Business Upturn does not provide investment advice. Readers should consult financial experts before making any investment decisions.
