01-01-1970 12:00 AM | Source: LKP Securities Ltd
Buy Bharat Electronics Ltd For Target Rs.146/157 - LKP Securities Ltd
News By Tags | #998 #872 #483 #2951 #1302

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Future Outlook

The Rs 173bn Defence PSU is expected to end the current fiscal with a mammoth order book of over Rs.600bn even as the management has guided for an order inflow of Rs.200bn this fiscal.
Given its track record of execution, robust order accretion and sheer width of its product range positions BEL strongly in the Defence sector this fiscal

Technical Commentary

• The stock has experienced a breakout from a bullish flag formation on the weekly chart. This breakout pattern suggests the potential for further upward movement.

• A robust uptrend is evident in the stock's price action, characterized by consistent higher highs and higher lows, indicating sustained positive momentum.

• Support is observable at 115, which has been acting as a protective barrier for the bulls, potentially preventing further downside movements. For trader the stock presents a potential upside target range of 146 to 157.

 

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