PSU stock ZOOMs 1383.53% over decade; gets Rs 4,803 crore order boost - Do you own?
psu stock zooms 1383.53% over decade; gets rs 4,803 crore order boost - do you own?
BEL shares: Shares of Navratna defence PSU - Bharat Electronics (BEL), that gained 1383.53 per cent over the last decade, are gaining investor’s attention following the announcement of new orders totaling Rs 4,803 crore in the current fiscal year.
BEL AVNL Chennai contract
BEL has signed a contract valued at Rs.3,172 crore with Armoured Vehicles Nigam Limited (AVNL) for Indian Army's BMP 2/2K tanks upgrade with indigenously designed system.
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“Navratna Defence Public Sector Undertaking, Bharat Electronics Limited (BEL), has signed a contract valued at Rs.3,172 Crs with Armoured Vehicles Nigam Limited (AVNL) on June 28, 2024, at AVNL Headquarters in Chennai. The project entails the supply and installation of an advanced, indigenously designed and developed Sighting and Fire Control System (FCS) for the upgrade of BMP 2/2K Tanks of the Indian Army, along with a comprehensive Engineering Support Package,” BEL said in an exchange filing.
BEL new order
“Additionally, BEL has secured other orders valued at Rs.481 Crs following the last disclosure on 22 May 2024 which comprises of Doppler Weather Radar, Classroom jammers, spares and services etc. With these, BEL has received accumulated orders totalling Rs.4,803 Crs in the current financial year,” the company said.
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BEL dividend 2024
Additionally, BEL's board of directors recommended a final dividend of Rs 0.80 per equity share, having already paid dividends twice in 2024 - Rs 0.70 each in February and March. “.. A final dividend of Rs 0.80 per equity share for the financial year 2023-24 has been recommended by the Board of Directors at the meeting held on 20th May 2024,” the company said in an exchange filing.
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BEL share price
On Friday, BEL shares closed in green at Rs 306.20 per share, 0.56 per cent higher than the previous close of Rs 304.50 per share. The stock touched an intraday high of Rs 309.90 per share and low of Rs 302.80 per share.
BEL share price history
The defence stock has been consistently delivering decent returns to its shareholders over the last six months, gaining 67.60 per cent. Furthermore, the stock has delivered over 65.47 per cent returns on YTD and 52.00 per cent in the last three months. It has delivered 153.90 per cent return in the last one year and grew by 428.93 per cent in the last three years.
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Furthermore, the stock has delivered an impressive return of 717.62 per cent in the last five years as on June 28, according to BSE analytics.