Re 0.85 Dividend: Multibagger Defence PSU Rises 83% YTD, Buy For Fresh TP Rs 1740: PL

Mid cap defence public sector undertaking (PSU) Bharat Dynamics (BDL) shares are on a roll and continue to offer rich returns to investors. In last 1-month only, BDL shares zoomed 61.84% and surged 129% in last 6-months only. Current market price of Bharat Dynamics share on BSE is Rs 1582.35 apiece with intraday gain of 6.14% as on June 14. Brokerage firm Prabhudas Lilladher has recommended buy call to Bharat Dynamics shares with fresh target price of Rs 1740 per share and keep stop loss at Rs 1400/share.

Bharat Dynamics recommended a final dividend of Re 0.85 per share on the face value of Rs 5/each for the financial year ended March 31, 2024. Bharat Dynamics shares traded ex-split on May 24 in the proportion of 1:2. Bharat Dynamics has a market capitalisation of Rs 58,003.02 crore. Check more details below:

Prabhudas Lilladher Recommends Buy To Bharat Dynamics Shares: The analyst at Prabhudas Lilladher said, "with much upside potential visible from the current rate, we suggest buying the stock for an upside target price of Rs 1,740. Keep stop loss placed at Rs 1400 level."

LIC Stake In BDL: Life Insurance Corporation Of India has 1.43% stake in Bharat Dynamics as the PSU insurer has 2,626,403 shares of the company.

Bharat Dynamics Recommends Dividend: According to the exchange filing of Bharat Dynamics dated May 30, 2024, "the Board of Directors of the Company have recommended a final Dividend @ Re 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 Stock Split: Th BSE filing of the PSU as on April 29, 2024 set May 24, 2024 as the record date to determine eligibility of shareholders for sub-division/ split of existing 1 (One) Equity Share of face value of Rs. 10/- (Rupees Ten Only) each fully paid up into 2 (Two) Equity Shares of face value of Rs. 5/- (Rupees Five Only) each fully paid up.

Bharat Dynamics Shares Performance & Return: The 52-week high price of Bharat Dynamics shares on BSE is Rs 1660.00 per share (as on 03/06/2024) and 52-week low price is Rs 450.50 apiece (as on 25/10/2023), respectively. Bharat Dynamics shares skyrocketed 91% in last 3-months, gained 186% in last 1-year, and offered whopping returns of 779% in last 3-years only. In last 5-years, Bharat Dynamics shares zoomed 950%.

Bharat Dynamics Q4 Results: 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 net profit announced in the corresponding quarter of last year. The defence PSU for the quarter ended March 31, 2024 declared revenue from operations at Rs 854.12 crore as compared to Rs 798.25 crore in the similar quarter of last year. Bharat Dynamics for the March 2024 quarter announced its total income at Rs 942.60 crore as compared to Rs 835.42 crore in the corresponding quarter of last year. Total expenses of BDL for March 2024 quarter arrived at Rs 554.73 crore as compared to Rs 629.61 crore in the corresponding quarter of last year. EPS of the PSU for March 2024 quarter came at Rs 7.88 from Rs 4.17 in March 2023.

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 Prabhudas Lilladher. 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.