Bharat Electronics surges 10% on strong Q4 results, hits over 3-year high

Shares of Bharat Electronics (BEL) hit over three-year high of Rs 166.45 after rallying 10 per cent on the BSE in intra-day trade on Wednesday after the company reported a strong set of numbers for the quarter ended March 2021 (Q4FY21). Besides, the company has recommended a final dividend of Rs 1.20 per equity share (120 per cent) of Rs 1 each for the financial year 2020-21.

The stock of the state-owned defence company was trading at its highest level since February 2018. The trading volumes on the counter has seen an over four-fold jump with a combined 57.18 million equity shares changing hands on the NSE and BSE. At 12:34 pm, there were pending buy orders for 1.99 million shares on both the exchanges. In comparison, the S&P BSE Sensex was down 0.18 per cent at 52,496 points.