Buy Bharat Electronics, target price Rs 112: Sharekhan by BNP Paribas

Sharekhan by BNP Paribas has buy call on Bharat Electronics with a target price of Rs 112. The current market price of Bharat Electronics is Rs 103.15. Sharekhan by BNP Paribas recommended to keep stop loss at Rs 99.5.

Bharat Electronics, incorporated in the year 1954, is a Large Cap company (having a market cap of Rs 75619.66 Crore) operating in Defence sector.

Bharat Electronics key Products/Revenue Segments include Electronic Components & Equipments, Sale of services, Other Operating Revenue, Scrap and Rent for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 4035.38 Crore, up 25.21 % from last quarter Total Income of Rs 3222.82 Crore and up 7.89 % from last year same quarter Total Income of Rs 3740.43 Crore. Company has reported net profit after tax of Rs 614.83 Crore in latest quarter.

The company’s top management includes Mr.Dinesh Kumar Batra, Mr.Gokulan Bangakandy, Mr.Shivnath Yadav, Mr.Prafulla Kumar Choudhury, Dr.N Santhoshkumar, Mr.Mansukhbhai S Khachariya, Dr.Binoy Kumar Das, Dr.P V Parthasarathi, Mr.Anurag Bajpai, Mr.Bhanu Prakash Srivastava, Mr.M V Rajasekhar, Mr.Vinay Kumar Katyal, Mrs.Anandi Ramalingam, Mrs.Shyama Singh. Company has Guru & Jana as its auditors. As on 30-09-2022, the company has a total of 731 Crore shares outstanding.

Investment Rationale
Moving up as a follow through of a Hammer pattern formation at the daily lower Bollinger Band.

Promoter/FII Holdings
Promoters held 51.14 per cent stake in the company as of 30-Sep-2022, while FIIs owned 15.99 per cent, DIIs 25.58 per cent.