Bharat Electronics inches up on targeting Rs 20,300 crore turnover for FY24
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Bharat Electronics is currently trading at Rs. 129.30, up by 0.10 points or 0.08% from its previous closing of Rs. 129.20 on the BSE.
The scrip opened at Rs. 130.00 and has touched a high and low of Rs. 130.50 and Rs. 129.00 respectively. So far 134866 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 133.25 on 01-Aug-2023 and a 52 week low of Rs. 87.00 on 30-Jan-2023.
Last one week high and low of the scrip stood at Rs. 130.50 and Rs. 123.55 respectively. The current market cap of the company is Rs. 94442.34 crore.
The promoters holding in the company stood at 51.14%, while Institutions and Non-Institutions held 42.18% and 6.68% respectively.
Bharat Electronics (BEL) has set a target of Rs 20,300 crore turnover for financial year 2023-24 as demand for indigenous products is driving growth for the company. BEL achieved a turnover of about Rs 17,300 crore in the previous financial year, a 15 per cent growth. The Bengaluru-headquartered company has plans to start marketing offices in Brazil, Armenia and Kazakhstan.
In order to increase indigenisation and value addition, BEL, a technology-oriented company, has been investing approximately six to seven per cent of its turnover in research and development. Constant efforts in indigenous development have led to achieving about 70 to 80 per cent of turnover from indigenous products.
BEL is a multi-product, multi-technology, multi-unit conglomerate with various products in the areas of military communication, radars, naval systems, C4I systems, weapon systems, homeland security, telecom & broadcast systems, electronic warfare, tank electronics, electro-optics, professional electronic components and solar photovoltaic systems.
