BEL shares cross Rs 400 mark for first time, hit record high; what's next?

Shares of Bharat Electronics Ltd (BEL) hit their record high on Monday amid a rally in the broader market. BEL stock rose above the Rs 400 mark for the first time ever, hitting a record high of Rs 403.60 in the current session. The multibagger defence stock gained 2.56% to a peak of Rs 404.40 against the previous close of Rs 394.30 on BSE. 

Market cap of the firm climbed to Rs 2.95 lakh crore. BEL stock has clocked multibagger returns of 222% in two years and 421.84% in three years. 

In terms of technicals, the relative strength index (RSI) of BEL stock stands at 70, signaling it's trading near the overbought zone. BEL shares are trading higher than the  5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day  and 200 day moving averages. 

Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers said, "Support will be  Rs 380 and resistance at Rs 410. A decisive move above the Rs 410 level may trigger a further upside of Rs 420. The expected trading range will be between Rs 380 and Rs 420 for the short term."

Antique Stock Broking has a buy call on the defence stock. 

BEL's transition from product manufacturing to system integration and expected orders for missile systems like QRSAM are significant growth drivers, said Antique. This evolution positions BEL as a pivotal player in the integration of advanced missile systems, enhancing its competitive edge in the market.

Q4 earnings 

BEL reported a 18% YoY increase in net profit to Rs 2,127 crore in the last quarter compared with Rs 1,797 crore a year ago. Revenue from operations climbed 7% to Rs 9,150 crore against from Rs 8,564 crore in the same period last year. Total income climbed to Rs 9,344.23 crores in the March 2025 quarter from Rs 8,789.51 crore in the year-ago period.

Bharat Electronics manufactures and supplies electronic equipment and systems to defence sector.