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Business
Shares of defense giant Bharat Electronics (BEL) were trading at Rs 281.45, up 1.92% as of 12:30 pm on Friday, January 17.
Brokerage firm Motilal Oswal is bullish on a defense stock, issuing a buy rating. The report highlights the upcoming budget and focus on defense indigenization.
The brokerage report notes that geopolitical crises increase defense budgets, impacting defense stocks. BEL stock is currently trading 20% below its previous high.
Motilal Oswal has made this stock a top pick for 2025. This defense company is a market leader. Big orders are also coming in for QRSAM, Tejas Mk1A, MRSAM.
As of October 1, 2024, the company’s order book stood at Rs 74,595 crore, with Rs 10,362 crore more orders received in FY25 and more expected soon.
BEL's positive outlook has led Motilal Oswal to set a target of Rs 360, offering a potential 30% return as the stock currently trades around Rs 281.
Bharat Electronics' stock made a lifetime high of Rs 340 in July last year. Since then the stock has been under pressure. It reached a low of Rs 258 on January 13, 2025.
Be sure to consult your market expert before making any kind of investment.