BEL shares rise as company reports 19.6 per cent profit jump
Bharat Electronics Limited shares closed higher on Wednesday following second quarter results for the 2026-27 financial year.
Bharat Electronics Limited (BEL) shares ended higher on Wednesday, November 4, after the state-owned defence manufacturer reported a 19.6 per cent annual increase in net profit for the second quarter of financial year 2026-27, according to Mint.
The stock closed 4.56 per cent higher at ₹397.10 per share on the BSE. The company's market capitalisation stood at ₹2,90,271.32 crore at the close of trading.
Motilal Oswal reported that the Navratna defence PSU delivered revenue, EBITDA, and profit figures that outperformed expectations. Although base order inflows saw an annual decline of 31 per cent, the company expects a large order worth ₹200 billion in upcoming quarters.
The Motilal Oswal report noted that while the Ministry of Defence (MoD) has caused certain project delays, inflows are expected to increase soon. The firm predicts a revenue, EBITDA, and PAT CAGR of 15 per cent, 14 per cent, and 15 per cent respectively over FY26-29.
Motilal Oswal has reiterated a 'Buy' rating for the stock, setting a target price of ₹540 per share. This revised target is based on a roll-forward to 45x Dec’28E earnings.
The stock has delivered a 490.75 per cent return over the last five years. It previously reached a 52-week high of ₹473.25 on March 6, 2025, and a 52-week low of ₹354.70 on October 23, 2026.