Buy President Of India Backed Defence PSU, TP Rs 1770; 10K Shares Gave 1.15 Cr Corpus In 1-Yr

Mid cap defence public sector undertaking (PSU) Bharat Dynamics shares hit second consecutive 52-week high on July 5, 2024 to 1731.50 per share. Bharat Dynamics Ltd shares witnessed stunning rally of 98% in last 3-monhts only and 207% jump in last 1-year. Sumeet Bagadia of Choice Broking has recommended buy call to the President of India backed stock Bharat Dynamics shares with target price of Rs 1770 with stop loss at Rs 1625 per share. Life Insurance Corporation Of India (LIC) has 1.43% stake in Bharat Dynamics with 2,626,403 shares of the company. Check details below:

Bharat Dynamics Gets Buy Call: According to the brokerage firm Choice Broking, BDL share price is presently trading at Rs 1683.9. After minor decline and sideways consolidation, BDL has lately broken the neckline levels of Rs 1650 and is surging quickly on the upside with substantial volume. There are expectations of upward movement, potentially reaching the Rs 1770 mark. On the downside, considerable support is evident near Rs 1625.

10,000 Shares Gave Corpus Of Rs 1.15 Crore In 1-Yr: If you had bought 10,000 shares of BDL an year ago, you would have got a total corpus of 1,15,87,307 crore as the PSU gave return of 207.42% in last 1-year. You would have got a net profit of Rs 59,96,507.

Bharat Dynamics Share Performance: The 52-week high price of Bharat Dynamics shares on BSE is Rs 1794.70 (as on 05/07/2024) and 52-week low price is Rs 450.50 apiece (as on 25/10/2023), respectively. Bharat Dynamics shares gained 101% year-to-date, soared 99% in last 6-months, soared 207% in last 1-year, offered return of 417% in last 2-years, and surged 839% in last 3-years. In last 5-years, Bharat Dynamics Ltd shares offered gain 989% in last 5-years.

Bharat Dynamics Recommends Dividend: As per the BSE filing of Bharat Dynamics dated May 30, 2024, "the Board of Directors of the Company have recommended a final Dividend @ Rs 0.85 per share (face value of Rs.5/-each) for the year ended 31.03.2024. This Dividend upon approval by the shareholders at the ensuing Annual General Meeting(AGM) will be paid within 30 days from the date of AGM."

Bharat Dynamics Financials: Bharat Dynamics announced net profit for the quarter ended March 31, 2024 at Rs 288.77 crore, up 89.05% as compared to Rs 152.75 announced in the corresponding quarter of last year. BDL for the quarter ended March 31, 2024 announced revenue from operations at Rs 854.12 crore as against Rs 798.25 crore in the corresponding quarter of last year. BDL for March 2024 quarter announced its total income at Rs 942.60 crore as compared to Rs 835.42 crore in the same quarter of last year. Total expenses of defence PSU for March 2024 quarter arrived at Rs 554.73 crore as compared to Rs 629.61 crore in similar quarter of last year. EPS of the PSU for March 2024 quarter came at Rs 7.88 from Rs 4.17 in March 2023.

Bharat Dynamics Stock Split History: It declared 1:2 stock split and shares traded ex-split on May 24, 2024.

BDL About: Headquartered in Hyderabad, Bharat Dynamics Limited (BDL), was incorporated on 16 July, 1970 as a Public Sector Undertaking under the Ministry of Defence, Government of India to be the manufacturing base for guided missile systems and allied equipment for the Indian Armed Forces. Since its inception, BDL has been working in collaboration with DRDO & foreign Original Equipment Manufacturers (OEMs) for manufacture and supply of various missiles and allied equipment to Indian Armed Forces.

Disclaimer: The stock has been picked from the brokerage report of Choice Broking. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.