PSU Defence Stock Fixes Record Date For Dividend, ICICI Direct Assigns Buy Call

Leading mid cap PSU Defence sector stock, Bharat Dynamics Ltd fixed record date for interim dividend today. The company also announced its Q3 results on February 7, 2023. It declared a decline of 61% in net profit to Rs 83.74 crore in Q3 FY23 from Rs 213.26 crore in Q3 FY22. Total revenue from operations declared a Rs 461.55 crore during the quarter, down 43% YoY.

Meanwhile, ICICI Direct is bullish on Bharat Dynamics and assigned buy call with a potential return of 36%. Check details below:

1. Bharat Dynamics Sets Record Date For Dividend

According to the regulatory filing, "We wish to inform that the Board of Directors in its 274th Meeting held on 07.02.2023 has declared Interim Dividend for the Financial Year 2022-23 @ Rs. 8.15/- per share of the face value of Rs. 10/- each. The Company has fixed 20 February, 2023 as 'Record Date' for the purpose of payment of Interim Dividend on equity shares for the Financial Year 2022-23."

2. Bharat Dynamics Stock Performance & Return

The last trading price of the stock is Rs 885.10 apiece with an intraday fall of 2.43%. The stock's 52-week high is Rs 1026.00 apiece and 52-week low is Rs 407.70 apiece, respectively. The company has a market capitalisation of Rs 16,222.22 crore. The stock rallied 7% in last 6-months, 81% in last 1-year, and 199% in last 3-years.

3. ICICI Direct On Bharat Dynamics

The brokerage has given buy call to Bharat Dynamics with a target price of Rs 1200 apiece in its report date November 13, 2022. According to the brokerage, "We maintain our BUY rating on the stock. We value BDL at Rs 1200 on 28x P/E on FY24E EPS basis." If you buy Bharat Dynamics now, you can get potential 36% return.

4. Bharat Dynamics About

Bharat Dynamics (BDL) is one of the leading defence PSUs in India engaged in the manufacture of surface to air missiles (SAMs), anti-tank guided missiles (ATGMs), air to air missiles (AAMs), underwater weapons, launchers, countermeasures and test equipment.

Disclaimer

The stock has been picked from the brokerage report of ICICI Direct. 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.