BEL secures orders worth Rs 531 crore; stock slips 4%

Bharat Electronics Ltd (BEL) on Tuesday said it bagged additional orders valued at Rs 531 crore. "Navratna Defence Public Sector Undertaking, BEL has secured additional orders worth Rs 531 crore since the last disclosure on January 13, 2025," the defence PSU stated.

"Major orders include advanced composite communication system for ship, communication equipment, medical electronics, electro-optics, active radar homing head for missiles, classroom jammers, spares, services etc," it also said.

With these orders, BEL mentioned that it has now accumulated orders totalling Rs 10,893 crore in the current financial year 2024-25 (FY25).

On the stock-specific front, BEL shares were declining despite the order win. The scrip fell 3.82 per cent to hit a low of Rs 252.85. It was last seen trading 2 per cent down at Rs 257.65. At this price, BEL has corrected 19.82 per cent in the past six months.

Technically, the stock traded lower than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 35.01. A level below 30 is defined as oversold while a value above 70 is considered overbought.

As per BSE, the counter has a price-to-equity (P/E) ratio of 42.29 against a price-to-book (P/B) value of 11.05. Earnings per share (EPS) stood at 6.22 with a return on equity (RoE) of 26.12. Promoters held a 51.14 per cent stake in BEL during the December 2024 quarter.

BEL saw high trading volume on BSE as around 10.83 lakh shares changed hands on BSE at the time of writing this story. The figure was higher than the two-week average volume of 7.57 lakh shares. Turnover on the counter came at Rs 27.89 crore, commanding a market capitalisation (m-cap) of Rs 1,89,579.11 crore.

On the earnings front, BEL is slated to declare its third quarter (Q3 FY25) results on January 30, 2025.