Page 32 - Bharat Electronics News Today

State-owned aerospace and defence electronics company Bharat Electronics has signed a contract valued at Rs 445 crore with the Uttar Pradesh government.This

Indian shares eked out modest gains on Tuesday as traders returned to their desks after a long Christmas holiday weekend. The benchmark S&P BSE Sensex rose 229.

Sectorally, buying was seen in utilities, public sector, oil & gas and energy stocks while selling was seen in IT and smallcap stocks

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Favourable government policies, higher government capital expenditure, Indigenisation, Import Substitution and China Plus One Trend continues to be at play in sectors like Capital Goods, Defence, Electronics and Textiles in particular, says Arvind Kothari.

On a year-to-date basis, the S&P BSE PSU index has rallied more than 50% and scaled a lifetime high of 15,531 earlier this week. Meanwhile, the benchmark Sensex has given a little over 16% returns in the same period. A significant chunk of the gains in PSU stocks came in December, with as many as 28 of them clocking double-digit gains, after the strong victory for the Bharatiya Janata Party (BJP) in the state assembly elections of Chhattisgarh, Madhya Pradesh, and Rajasthan.

BEL has bagged cumulative orders worth Rs 25,935.15 crore till now in the current financial year.

A total of 222,968 shares changed hands on the counter till 12:13PM (IST)

“The market has to have the cyclicality and up and down trajectory that goes through. I think people who in 2000 said only invest in tech in India or people who said I only invest in high-quality business, pay the price. The market is not a place for the arrogant. It is a place for the humble.”

The stock quoted a 52-week high of Rs 175.9 and a 52-week low of Rs 87.0.