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Bharat Electronics stock rises 8% after Q4 profit jumps 74%

Bharat Electronics (BEL) stock has gained 7.52% in last 4 days.  The stock opened with a gain of 6.82% today at  Rs 93.20 against previous close of Rs 87.25 on BSE

Bharat Electronics stock rises 8% after Q4 profit jumps 74%

The share stands higher than 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages

Shares of Bharat Electronics (BEL) rose 8 percent intra day after the company reported a 74.28 percent year-on-year (YoY) increase in March quarter net profit. Bharat Electronics (BEL) stock has gained 7.52% in last 4 days.  The stock opened with a gain of 6.82% today at  Rs 93.20 against previous close of Rs 87.25 on BSE.

The stock touched an intraday high of Rs 94.2, a gain of 7.97%  during trade today.

The share stands higher than 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages

The stock has lost 21.16% in one year and fallen 11.44% since the beginning of this year. In a month, the large cap stock has climbed 28%. The stock pared gains to close 1.60% higher at Rs 88.65 on BSE.

Total 28.67 lakh shares changed hands amounting to turnover Rs 25.97 crore on BSE. In Q4  net profit rose to Rs 1,046.73 crore against Rs 600.59 crore during the corresponding quarter of the previous financial year. Sales climbed 51.43 percent to Rs 5,728.57 crore in Q4 against Rs 3,782.87 crore in Q4 of 2018-19.

Total income rose rose to Rs 5,845 crore in Q4 against Rs 3,935 crore in Q4 of 2018-19.

Share Market Highlights: Sensex ends 45 points lower, Nifty at 10,302; PowerGrid, BPCL, Sun Pharma top losers

 Earnings per share rose to Rs 4.30 in Q4 against Rs 2.46 in corresponding quarter of previous fiscal A final dividend of Rs 1.40 per equity share for the financial year 2019-20 has been recommended by the Board of Directors at the meeting held on June 29, 2020.

BEL's order book stood at Rs 51,973 crore as on April 1, 2020 and the export order book stood at $48.6 million. Order inflows in Q4 stood at Rs 2,867 crore while order inflows for FY20 came in at Rs 13,200 crore with major orders such as Akash Missile system (7 Sqdn), Coastal Surveillance system - phase II, upgrade of EW systems mart city business, etc.

Meanwhile, extending fall for the second straight session, Sensex closed 45 points lower at 34,915 and Nifty fell 10 points to 10,302.

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