Shares of BEL fall as Nifty drops

Shares of Bharat Electronics Ltd. slipped 1.11 per cent to Rs 129.85 in Thursday's trade as of 02:00PM (IST). It hit a high of Rs 131.75 and low of Rs 129.5 during the session.

The stock quoted a 52-week high price of Rs 133.25 and a low of Rs 87.0. The return on equity for the stock stood at 21.53 per cent. About 333,417 shares have changed hands on the counter so far.

The stock's beta value, which measures its volatility in relation to the broader market, stood at 1.44.


The scrip has been an outperformer, up 33.62 per cent in the past one year in comparison with a 9.6 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 87.0 on August 17, while the 50-DMA was at Rs 125.29. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 51.14 per cent stake in Bharat Electronics Ltd. as of 30-Jun-2023. Mutual funds and foreign institutional investors held 19.33 per cent and 17.35 per cent stake.