homemarket NewsBharat Electronics shares hit all time high after company receives orders worth ₹678 crore
Bharat Electronics shares hit all-time high after company receives orders worth ₹678 crore
BEL Share Price | Bharat Electronics has recieved an order worth ₹445 crore from the UP governemnt for the nnext generation emergency response system — the UP DIAL 112 project.It has also received orders worth ₹233 crore regarding communication display units, thermal imaging cameras and other miscellaneous spares and services, it said in a stock exchange filing.
Bharat Electronics shares hit their all-time high of ₹184.5 apiece on Tuesday, December 26, after the company announced that it had received orders worth ₹678 crore.
Of these, one order is from the UP government worth ₹445 crore for the the next generation emergency response system — the UP DIAL 112 project. The company will be providing a hardware and AI-based software tools and cyber security solutions for the project, which spans across the entire state, it said in a stock exchange filing.
The company has also received orders worth ₹233 crore regarding communication display units, thermal imaging cameras and other miscellaneous spares and services, the exchange filing said.
With this, the company has received a total of Rs 26,613 crore orders this fiscal, so far.
Earlier today, CLSA maintained a 'buy' call on BEL and raised its target to Rs 207 per share from the previous Rs 157 per share. The brokerage said the company is set to beat its FY24 order inflow guidance of Rs 20,000 crore with orders of Rs 25,900 crore, and on the back of the Centre brining forward Make In India orders.
#CNBCTV18Market | Co set to beat its FY24 order inflow guidance of ₹20,000 cr with FY24 YTD orders of ₹25,900 c, see government accelerating MII defence orders: CLSA on BEL pic.twitter.com/p2dUWHgNzh
— CNBC-TV18 (@CNBCTV18Live) December 26, 2023
The stock was trading 4.6% higher at ₹182.9 apiece 12.40pm on December 26, 2023. The stock has been trading in the green for eight out of the last nine trade sessions. It has stock has gained 82.44% this year, so far.
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First Published: Dec 26, 2023 12:52 PM IST
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