Buy Bharat Electronics, target price Rs 252: Religare Broking

Religare Broking has buy call on Bharat Electronics with a target price of Rs 252. The current market price of Bharat Electronics is Rs 239.95. 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 58490.41 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 31-03-2022, the company reported a Consolidated Total Income of Rs 6403.75 Crore, up 70.24 % from last quarter Total Income of Rs 3761.56 Crore and down -8.19 % from last year same quarter Total Income of Rs 6974.98 Crore. Company reported net profit after tax of Rs 1146.50 Crore in latest quarter.

Investment Rationale
Rebounded strongly after retesting support of 225 levels and is likely to retest the record high.

Promoter/FII Holdings
Promoters held 51.14 per cent stake in the company as of 31-Mar-2022, while FIIs owned 16.77 per cent, DIIs 26.71 per cent.