BEL shares near record high post strong Q3; should investors hold or book profits?

Shares of Bharat Electronics Ltd (BEL) were trading close to their all-time high, gaining 12.95 per cent over the past month. The state-run defence PSU posted a strong performance for the December quarter (Q3 FY26). 

For the quarter under review, BEL reported a profit after tax (PAT) of Rs 1,590.06 crore, up 20.82 per cent year-on-year (YoY) from Rs 1,316.06 crore in the corresponding period last year.

The Navratna defence PSU’s revenue from operations climbed 23.73 per cent YoY to Rs 7,121.98 crore in Q3 FY26, compared with Rs 5,756.12 crore in the same quarter of the previous financial year. BEL also said its order book stood at Rs 73,015 crore as of January 1, 2026.

Some analysts remain largely bullish on BEL, citing strong long-term performance, defence capital expenditure (capex) tailwinds, and a positive technical breakout.

Kranthi Bathini, Director – Equity Strategy at WealthMills Securities, said, BEL has been one of the top-performing stocks over the past one- and three-year periods, supported by defence capex. He advised investors to continue holding the stock and consider accumulating it on declines from a long-term perspective.

Sharing a similar view, Ravi Singh, Chief Research Officer at Mastertrust, recommended holding the stock with a stop loss at Rs 415.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, pointed out that BEL has seen a strong breakout above the key Rs 430 resistance zone and is now trading in uncharted territory. He added that the technical setup remains bullish, with Rs 430 acting as a strong support, while Rs 475–490 could emerge as a resistance zone in the short to medium term.

As of December 2025, promoters held a 51.14 per cent stake in the state-run defence player.

Meanwhile, BEL shares closed 1.96 per cent lower at Rs 444.50 on Thursday. At this level, the stock was trading 2.94 per cent below its record high of Rs 457.95, touched recently on January 28 (Wednesday).