Bharat Electronics Share Price Target Goldman Sachs: There has been a strong rise in the Indian stock market on Wednesday’s trading day. BSE Sensex and NSE Nifty 50 closed on a positive note. During the trading day, there was a rise in the shares of defense sector PSU company Bharat Electronics.
Apart from this, global brokerage firm Goldman Sachs has also given a rating of Boy on the company shares. Let us know, what does Goldman Sachs have to say about company shares?
Brokerage Opinion and Target Price
Brokerage firm Goldman Sachs has expressed confidence in the shares of Bharat Electronics and advised to buy it. The firm has set a target of Rs 470 for this stock, which shows a potential upside of about 7 percent from the current price.
According to the firm, the company is continuously receiving new orders. Due to this strong order book, brokerages are showing positive attitude regarding this stock.
Order book strengthened with new orders
Bharat Electronics has recently received orders worth Rs 1,011 crore. Due to which the order book of the company has strengthened. These orders are for many products related to defense and advanced technology.
Company’s financial condition
According to the data, the financial condition of the company remains good. The company has made a net profit of Rs 1,579 crore in the third quarter of the current financial year. If we compare this profit with last year, it shows an increase of about 20 percent compared to Rs 1,311 crore.
At the same time, the company’s income also remained strong and reached Rs 7,154 crore with an increase of 24 percent. Whereas in the same period a year ago it was Rs 5,771 crore.
Company’s performance in stock market
There was a rise in the shares on BSE at the end of the trading day on Wednesday. Company shares closed at Rs 442.50 with a rise of 0.65 percent or Rs 2.85. The intraday high of the day was Rs 447.70. The market cap of the company is Rs 3,23,457.71 crore.
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