BEL shares hit record high on securing orders worth Rs 528 crore; here’s what analysts say

Shares of Bharat Electronics Ltd (BEL) jumped 3.38 per cent in Tuesday’s trade, reaching a record high of Rs 435.95, following the announcement of fresh orders worth Rs 528 crore received by the defence PSU. The company stated that the latest orders include radars, communication equipment, EVMs, jammers, shelters, control centres, spares and related services.

Some analysts remain optimistic about BEL’s long-term growth prospects, citing a strong order pipeline and consistent execution. However, one of them cautioned that the stock appears to be in overbought territory in the near term, suggesting that investors adopt a more measured approach at current levels.

“BEL has been outperforming its peers in the defence sector and is currently trading at its all-time high levels. Investors with a long-term perspective may continue to hold the stock,” said Kranthi Bathini, Director of Equity Strategy at WealthMills Securities.

“We hold a positive outlook on BEL’s order book, with expected inflows from key defence projects including the LCA, LRSAM spares, radars and other systems, which should support sustained growth in the coming fiscal years,” Rajesh Sinha, Senior Research Analyst at Bonanza, stated.

BEL has maintained a steady uptrend, trading above all key EMAs (Exponential Moving Averages), noted Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One. “The recent rally has pushed the stock into overbought territory, warranting a cautious approach. From a technical standpoint, the Rs 390–385 range may act as a support zone. It is advisable to trail profits as long as the positive momentum continues,” Krishan also said.

BEL has a price-to-earnings (P/E) ratio of 59.90 against a price-to-book (P/B) value of 18.20. Earnings per share (EPS) stood at 7.23 with a return on equity (RoE) of 30.39. As of March 2025, promoters held a 51.14 per cent stake in the state-run defence player.