Bharat Electronics buzzing

about 4 months ago
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Bharat Electronics, the large cap, defence company is buzzing loud today as the Ministry of Defence has signed a contract for Rs.1,075 crore with the company.

This contract is for the retro-modification of Commander Sight of Battle Tanks-T-90.

The company is in a sweet spot as the defence sector is opened up for private sector participation via the changes planned in the Defence Procurement Procedures. BEL most certainly holds a brand equity in the sector, which explains why many brokerage houses have interest in this stock.

Promoters holding in the company is at 51.14%, FIIs holds 17.21%, mutual funds hold 22.64%, leaving just 4.89% in the floating stock domain.

The stock, which had closed yesterday at Rs.187.75, opened higher today at Rs.194 and rose to an intraday high at Rs.198.60. Its 52-week high is at Rs.227.95.

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