BEL shares climb 3% as brokerages back post-results recovery

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The stock had hit a 52-week low of ₹354.55 on October 23 but has since rebounded sharply, gaining 7.8 per cent over the past week, outpacing the Nifty 50’s 4.69 per cent return in the same period.

By BL Mumbai Bureau

Updated - November 04, 2026 at 12:49 PM.

Shares of Bharat Electronics Limited were up 3.13 per cent at ₹392 on the NSE around midday on Wednesday, trading briskly after the defence PSU reported strong first-half results last week, with five brokerages maintaining buy or add calls.

The stock had hit a 52-week low of ₹354.55 on October 23 but has since rebounded sharply, gaining 7.8 per cent over the past week, outpacing the Nifty 50’s 4.69 per cent return in the same period. Traded volume stood at 131.96 lakh shares worth ₹513.51 crore by mid-session.

Nomura holds the most bullish target at ₹530, flagging large order wins across multiple verticals and BEL being on track to meet its FY27 order intake target of at least ₹55,000 crore. Citi and UBS have buy targets of ₹515 and ₹500 respectively, with both pointing to a potential ₹30,000 crore QRSAM order and an over ₹20,000 crore Next Generation Corvette electronics opportunity as near-term catalysts. Jefferies, with a target of ₹490, also expects the QRSAM award by March 2027 and sees missiles and drones as long-term growth levers. Kotak has a more conservative add rating with a target of ₹420.

BEL’s Q2 FY27 results, released on October 30, showed revenue from operations of ₹7,291 crore, against ₹5,764 crore a year ago. For the first half of FY27, revenue grew 25.97 per cent to ₹12,824 crore. Profit after tax for H1 FY27 rose 14.81 per cent to ₹2,589 crore, while the company’s order book stood at ₹68,717 crore as of October 1, 2026.

At current levels, the stock trades at a P/E of 43.41x, with brokerages projecting upside ranging from 7 per cent to 35 per cent from the current price. The sell side of the order book, however, remains dominant at 63 per cent, suggesting some caution in the near term.

Published on November 4, 2026

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