Buy Bharat Electronics, target price Rs 232: IIFL

IIFL has buy call on Bharat Electronics with a target price of Rs 232. The current market price of Bharat Electronics Ltd. is Rs 222.25. Time period given by analyst is Intra Day when Bharat Electronics Ltd. price can reach defined target.

Bharat Electronics Ltd., incorporated in the year 1954, is a Large Cap company (having a market cap of Rs 54202.01 Crore) operating in Defence sector.

Bharat Electronics Ltd. key Products/Revenue Segments include Electronic Components & Equipments, Sale of services, Other Operating Revenue, Rent and Scrap for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 3761.56 Crore, up .56 % from last quarter Total Income of Rs 3740.43 Crore and up 60.48 % from last year same quarter Total Income of Rs 2343.90 Crore. Company reported net profit after tax of Rs 584.87 Crore in latest quarter.

Investment Rationale
The stock has given a channel breakout on the daily chart.

Promoter/FII Holdings
Promoters held 51.14 per cent stake in the company as of 31-Dec-2021, while FIIs owned 17.21 per cent, DIIs 26.77 per cent.