Bharat Electronics Hits Record High Stock Soars To 6%

Bharat Electronics (BEL) reached a new high of Rs 182.25, up by almost 6% on BSE. There has been a spurt in volume by more than 2.54 times.

The company is engaged in the business of defence equipment & is likely to report strong result for the financial year ended 31 March, 2017 as predicted by a market analyst.

The stock was trading at Rs 178.30, up by 3.84% on BSE at 12:01 PM IST, meanwhile the BSE was trading at 29,290.56, down by 0.10%.

The stock is expected to rise in future due to long-terms earnings visibility & large ticket orders bagged by the company. These efforts will enable the company to have continuous growth while effectively addressing future opportunities in defence business as mentioned in a national news portal.

As the company has bagged some crucial orders, revenue growth is likely to reach up to 15% over the next 4-5 years said a market analyst.

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