Multibagger Defence PSU Stock Declares Payment Date For Dividend, Falls 7.53% Intraday

Shares of large cap defence sector stock, Bharat Electronics Ltd on Tuesday witnessed a decline of 7.53% intraday on BSE. Current market price of Bharat Electronics stock is Rs 133.85 apiece. Board of directors of the company on September 13 informed shareholders that final dividend of Re 0.60 (60%) per equity share of Re 1/- each will be paid on September 25, 2023. BEL shares gained 41% in last 6-months and offered 104% return in last 2-years.

Bharat Electronics To Pay Final Dividend: According to the exchange filing of BEL dated September 12, 2023, "Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, we wish to inform you that Final Dividend of Re 0.60/- (60%) per equity share of Re 1/- each declared at the 691h Annual General Meeting of the Company held on 28.08.2023 will be paid on 25.09.2023 to the eligible shareholders."

Bharat Electronics Stock Outlook & Return In last Few Years: Current market price of Bharat Electronics share is Rs 133.85 apiece with intraday fall of 7.53% on September 12. Its 52-week low price is Rs 147.20 per share and 52-week low price is Rs 87.00 per share, respectively. The defence sector company has a market capitalisation of Rs 97,841.39 crore. Bharat Electronics shares witnessed a rally of 293% in last 3-years and surged 359% in last 5-years. BEL shares witnessed a jump of 1025% in last 10-years.

Bharat Electronics Financials: The Navratna Defence PSU stock announced a 23% (YoY) surge in its net profit at Rs 530.08 crore for the first quarter ended June 30, 2023 as against Rs 431.5 crore declared in the corresponding quarter last year, as per its BSE filing. It is worth mentioning that BEL total revenue declared at Rs 3,510.8, up 12.8% as against Rs 3,112.8 crore in the corresponding period of the last fiscal. Meanwhile, the EBITDA at the operating level soared 29.4% to Rs 664.4 crore as against 512.5 crore in the corresponding period of last fiscal.

BEL About: Bharat Electronics Limited (BEL) is a Navratna PSU under the Ministry of Defence, Government of India. It manufactures state-of-the-art electronic products and systems for the Army, Navy and the Air Force. BEL has also diversified into various areas like homeland security solutions, smart cities, e-governance solutions, space electronics including satellite integration, energy storage products including e-vehicle charging stations, solar, network & cyber security, railways & metro solutions, airport solutions, Electronic Voting Machines, telecom products, passive night vision devices, medical electronics, composites and software solutions, according to its official website.

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