BEL stocks: On Friday, Bharat Electronics Ltd (BEL) announced that it had secured new orders amounting to Rs 3,172 crore. According to a BSE filing, BEL signed a contract with Armoured Vehicles Nigam Ltd (AVNL) on June 28, 2024, at AVNL Headquarters in Chennai.
BEL announced that it will supply and install an advanced, domestically designed and developed Sighting and Fire Control System (FCS) for upgrading BMP 2/2K tanks of the Indian Army, along with a comprehensive Engineering Support Package. Additionally, following its last disclosure on May 22, 2024, BEL has secured other orders valued at Rs 481 crore, including Doppler Weather Radar, Classroom jammers, spares, and services, among others. This brings BEL’s total accumulated orders for the current financial year to Rs 4,803 crore. Following this announcement, BEL’s stock saw a positive turn during trading, rising 1.77% to reach an intraday high of Rs 309.90 before settling at Rs 306.20, up by 0.56%.
Today on the BSE, approximately 24.41 lakh shares were traded, which was lower than the two-week average volume of 33.92 lakh shares. The turnover for the day amounted to Rs 74.59 crore, contributing to a market capitalization (m-cap) of Rs 2,23,825.43 crore. -BEL stocks
The stock traded below the 5-day and 10-day simple moving averages (SMAs) but above the 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day SMAs. The 14-day relative strength index (RSI) for the stock was recorded at 59.14. An RSI level below 30 indicates oversold conditions, while above 70 suggests overbought conditions.
Regarding valuation metrics, the company’s stock has a price-to-equity (P/E) ratio of 55.37 and a price-to-book (P/B) value of 13.84. The earnings per share (EPS) stood at 5.50, with a return on equity of 25%.
As of March 2024, the government maintained a majority stake of 51.14% in the PSU.
Disclaimer: Stockeasynow provides stock market news for informational purposes only and should not be construed as investment advice. Readers are strongly encouraged to consult with a qualified financial advisor before making any investment decisions.
