Bharat Electronics Ltd. (BEL) shares gained 2% after Jefferies maintained a ‘buy’ rating, setting a target price of ₹325. As of 9:27 AM, the shares were trading 1.86% higher at Rs 282.15.
Jefferies remains optimistic about BEL’s order inflow, noting that the company has secured ₹5.8 billion in orders so far. To meet its FY25 estimated order inflow target of ₹250 billion, BEL needs an additional ₹113 billion in orders by April 2025. Historical trends support this optimism, as BEL secured 83% of its FY23 order inflows in March and successfully met its ₹200 billion target, leading to a 12-17% stock rally in the subsequent months.
A key factor driving Jefferies’ bullish outlook is the surge in government defense spending, which increased 87% year-over-year in January 2025. Additionally, rising global defense expenditure acts as a near-term trigger for BEL’s growth.
BEL’s management remains confident in achieving its FY25 guidance, reinforcing positive market sentiment.
Bharat Electronics Ltd (BEL) opened at ₹278.60, reaching a high of ₹283.47 and a low of ₹278.60. The stock remains well above its 52-week low of ₹179.10 but below its high of ₹340.50.
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