BEL share price: Targets upped for maker of Akashteer, a Turkish drone killer; here’s why
The order inflows of Bharat Electronics Ltd (BEL) in FY25 fell short of guidance, but its operating profit margin in the March quarter surprised stock analysts, who believe the Rs 71,700 crore backlog — 40 per cent of which is ascribed to top 12 projects — provides strong revenue visibility.
Nirmal Bang said it likes the defence stocks amid robust order book, propelled by emergency procurement orders, currently at diverse stages of finalization. It said margins are expected to further increase with higher indigenization of various systems, subsystems as many of these will be manufactured in-house.
“Akashteer Program is a good example of this as 90 per cent of the product was indigenously developed,” it said.
The Akashteer system…
