Re 0.80 Dividend: Zero Debt Defence PSU Declares Dividend Payment Date, Buy For TP Rs 360

Bharat Electronics Ltd shares today witnessed decline of 2.78% to settle at Rs 290.60 per share on BSE. Earlier on August 28, 2024 BEL declared final dividend of Re 0.80 per equity share of Re 1/- each at the 70th Annual General Meeting (AGM). BEL said it will make the payment of the final dividend on September 23, 2024. Bharat Electronics shares offered shareholders returns of 108% in last 1-year and 57% so far in 2024. The PSU has a market capitalisation of Rs 2,12,422.17 crore. Check details below:

Bharat Electronics Declares Dividend Payment Date: As per the BSE filing of BEL dated September 5, 2024, "Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, we wish to inform you that Final Dividend of Rs. 0.80/- (80%) per equity share of Rs. 1/- each declared at the 70th Annual General Meeting of the Company held on 28.08.2024 will be paid on 23.09.2024 to the eligible shareholders."

BEL Dividend History: Bharat Electronics Ltd. announced a total of 51 dividends since August 27, 2001. In last 1 year, BEL announced an equity dividend amounting to Rs 2.20 per share. At the current share price of Rs 290.6000, Bharat Electronics dividend yield stood at 0.76%.

BEL Latest Order Win: As per the BSE filing of BEL dated August 22, 2024, "Navratna Defence Public Sector Undertaking, Bharat Electronics Limited (BEL) has secured orders worth Rs 695 Crs following the last disclosure on 12 July 2024. With these, BEL has now accumulated orders totalling Rs.5920 crores. in the current financial year."

Bharat Electronics Stock Performance & Return: The 52-week high price of Bharat Electronics Ltd shares on BSE is Rs 340.35 per share (as on 10/07/2024) and 52-week low price is Rs 127.00 apiece (as on 26/10/2023), respectively. BEL shares slipped over 4% in last 2-weeks, gained 38% in last 6-months, surged 108% in last 1-year, and offered rally of 166% in last 2-years. In last 3-years, BEL offered shareholders return of 339% and soared 709% in last 5-years.

Should You Buy BEL Shares? Leading brokerage firm Motilal Oswal said that BEL's results came ahead of estimates amid better-than-expected revenue and PAT. Revenue growth was driven by a robust order book, while order inflows stood at Rs 49,600 crore. BEL maintained its guidance on revenues and order inflows despite a strong execution in Q1. The analyst recommended investors to buy BEL shares with a target price of Rs 360.

BEL Shareholding: FII/FPI have decreased holdings from 17.56% to 17.43% in June 2024 quarter. Number of FII/FPI investors increased from 1261 to 1405 in June 2024 quarter. Mutual Funds have decreased holdings from 18.06% to 16.08% in June 2024 quarter. Number of MF schemes increased from 321 to 344 in June 2024 quarter. Institutional Investors have decreased holdings from 40.19% to 38.05% in June 2024 quarter.

Bharat Electronics Financials: The zero-debt burden company for the quarter ended June 30, 2023 declared its consolidated total income at Rs 3673.17 crore, down 43.88% as against its last quarter total income of Rs 6545.28 crore. The PSU company in its recent quarter announced its net profit after tax at Rs 528.60 crore.

BEL Bonus Share History: BEL's last bonus issue was declared in 2022 in the ratio of 2:1. BEL shares hit ex-bonus on September 15, 2022. Prior to this, BEL announced bonus shares in 2017 in the proportion of 1:10 and in 2015 in the ratio of 2:1 proportion.

BEL Stock Split History: Bharat Electronics Ltd. split the face value once since March 16, 2017. Bharat Electronics last split the face value of its shares from Rs 10 to Re 1 in 2017.BEL share traded ex-split as on March 16, 2017.

About: Established in 1954, BEL engages in manufacturing of specialised electronic equipment requirements of the Indian Defence Services. BEL produces a wide range of equipment for areas such as defence communication, radars, naval systems, c4i systems, weapon systems, homeland security, telecom & broadcast systems, electronic warfare, tank electronics, electro-optics, professional electronic components and solar photovoltaic systems, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of Motilal Oswal. 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.