BEL To Consider Bonus Issue In August, Shares Rise: Key Highlights

Bharat Electronics Limited is an Indian state-owned aerospace and defence company with about nine factories, and several regional offices in India. It is owned by the Indian Government and primarily manufactures advanced electronic products for the Indian Armed Forces, according to the official website of Bharat Electronics Ltd (BEL). The board of BEL is scheduled to consider bonus issue of shares on August 4, 2022.

The shares of the company has surged 0.58% in today's trading so far. The company made the announcement pertaining to issue of bonus share on August 1 and after the announcement the shares of the state-run company surged 2.80% to close at Rs 282 apiece on BSE. Check key highlights below:

1. BEL Plans To Consider Bonus Issue Of Shares

The board of directors of the company in their BSE filing said, "BHARAT ELECTRONICS LTD. has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 04/08/2022 ,inter alia, to consider and approve In pursuant to Regulation 29 of SEBI (LODR) Regulations, 2015, we wish to inform that a meeting of the Board of Directors of the Company is scheduled to be held on Thursday, the 4th August, 2022 inter alia to consider a proposal for issue of Bonus Shares to the equity shareholders of the Company."

2. BEL Stock Outlook

The current market price of the stock is Rs 284 apiece with a gain of 0.58% till noon trading. The 52-week high of the stock is Rs 287.75 apiece which it climbed yesterday soon after the announcement of bonus share. The 52-week low of the stock is Rs 162 apiece. The ROE of the stock is Rs 23.11 and PE is 24.88. It is a company with high TTM EPS. Brokers have upgraded the recommendation or target price for the stock.

3. About BEL

Guided by a farsighted vision to make the country self-reliant in Defence electronics, Bharat Electronics Limited (BEL) was set up in Bangalore in 1954 by the Government of India under the Ministry of Defence (MoD). From a humble beginning, BEL has come a long way. It is now a Navratna PSU and India's foremost Defence electronics company. The current market capitalization of BEL is Rs 69,296.70 crore.