Bel share price: Defense sector company Bharat Electronics Limited (BEL )’s third quarter results were good. In terms of data, the company’s profit in Q3 increased from Rs 893 crore to Rs 1,316 crore on an annual basis. Income in Q3 increased from Rs 4,137 crore to Rs 5,756 crore. In Q3, Ebitda increased from Rs 1,049 crore to Rs 1,653 crore. The Ebitda margin in Q3 increased from 25.4% to 28.7%. After the results, bulish on brokerage stocks are seen. Nomura, Jefferies has given the opinion of shopping on this stock while Morgan Stanley has given an overweight rating.
The market has liked the company’s results. After the opening of the market, during 9.44 am, this stock was seen trading at a level of Rs 284.50, climbing 2.06 percent or Rs 5.75.
Nomura said on BEL that the company’s third quarter results have been very good. The company expects a good order in Q4 further. They have increased the Ebitda margin/EPS estimate 200 BPS/8% for FY25. The stock is currently trading on 30x FY27 EPS. Brokerage has given the opinion of shopping on this. Its target has been fixed at Rs 363.
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Jefferies says that BIL has a 51% higher Ebitda in Q3 than estimated. Talking about the margin, the margin has increased by 28.7% as an estimate of 23.7%. Its margin strength is assured to continue profitability. The management has retained as much as earlier instead of increasing the guidance. Jeffers has given the opinion of shopping on this. Its target has been fixed at Rs 370.
Morgan Stanley has given opinion on BEL, saying that management is confident of completing FY25 order inflow guidance. The company is confident of completing an order inflow guidance worth Rs 25000 crore. The target is to up to 15% non -defense business in a few years. The management plans to increase the share of non-defense business by 20-25%. Brokerage has given overweight opinion on this. Its target has been fixed at Rs 364.
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