Page 3 - Bharat Electronics News Today

Shares of BEL recoverd sharply from intra-day lows on May 22, after management shared upbeat commentary and FY25 outlook in a concall with investors.

On the sectoral front, realty and FMCG gained one percent each, and capital goods, IT and Media up 0.5 percent each. On the other hand, bank index was down 0.5 percent and meal index shed 0.4 percent each.

Indian stock market benchmarks, Sensex and Nifty 50, trade cautiously as Lok Sabha election 2024 outcome nears. Volatility persists in May. Experts do not expect major correction till election outcome on June 4.

BHEL, PI Industries, NMDC, Hitachi Energy, GE T&D India, Ircon International, NMDC Steel, Eris Lifesciences, Aether Industries, JK Tyre and other will announce their Q4 results later today.

A total of 5,363,574 shares changed hands on the counter till 09:59AM (IST).

BEL stock has more than doubled investors wealth in the last one year, rising 161 percent. The stock has extended its gains for 2024 to over 40 percent.

BEL shares hit a record high, up 9% after a 30% profit increase and dividend declaration. Brokerages are optimistic about BELs growth potential, with target prices set by Nomura & Motilal Oswal, citing improved margins & government support for the defence sector.

IT stocks are under pressure in trade due to concerns over US interest rates remaining higher for longer, after some Federal Reserve officials maintained a cautious stance on inflation.

Bharat Electronics Q4 Results Live : Revenue increased by 32.18% YoY & profit increased by 30.04% YoY

In the past year, various sectors such as banking, real estate, and technology stocks outperformed in America, leading to Dow Jones hitting the 40,000 mark.