Bharat Electronics rallies 5% post Q1 results, strong order book position

Shares of Bharat Electronics (BEL) jumped 5 per cent to Rs 258.20 on the BSE in Monday’s intra-day trade after the company reported profit after tax (PAT) of Rs 431.49 crore in the June quarter (Q1FY23), due to higher revenue and on the back of lower base. The state-owned aerospace & defense company had posted PAT of Rs 11.15 crore in Q1FY22. As of July 1, 2022, the company’s order book position stood at Rs 55,333 crore.

The stock traded close to its 52-week high of Rs 259.50 touched on April 19, 2022. At 09:30 am, the stock quoted nearly 5 per cent higher as compared to 0.7 per cent rise in the S&P BSE Sensex. The trading volumes on the counter jumped nearly 10-fold with a combined 10.9 million equity shares changing hands on the NSE and BSE.