Bharat Electronics shares gain 3% as Motilal raises target price after Q2; Elara Capital upgrades to Buy
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- ✓Bharat Electronics shares rose 3% to Rs 392 on Wednesday after Motilal Oswal raised its target price and Elara Capital upgraded the stock to Buy.
- ✓Brokerages cited strong order visibility and healthy revenue growth.
- ✓However, they noted that delays in major defence orders remain a key risk for the company.
Story at a Glance
- Category
- MARKET
- Reported By
- Economic Times
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
Bharat Electronics shares gained after Motilal Oswal raised its price target and Elara Capital upgraded its rating to Buy. Brokerages cited strong order visibility, healthy revenue growth and margin prospects, while delays in major defence orders remain a key risk.
Shares of state-owned defence company Bharat Electronics rose as much as 3% to day's high of Rs 392 on the BSE on Wednesday after Motilal Oswal raised the target price while Elara Capital upgraded the stock rating to Buy from Accumulate.
The upgrades come after the company's analyst call on Tuesday, while the results were declared last week. Bharat Electronics reiterated its FY27 guidance, targeting 15% revenue growth, an EBITDA margin of 28% and order inflows of more than Rs 55,000 crore, including the QRSAM programme. The company plans to spend over Rs 2,200 crore on research and development and Rs 1,200 crore on capital expenditure during the year. It also expects to maintain a business mix of 90% defence and 10% non-defence.
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Economic Times
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