Debt-free Navratna stock hits 52-week high, brokerages optimistic for new high
Bharat Electronics Limited (BEL) is a Navratna Power Unit under the Ministry of Defence, Government of India. For the army, navy and air force, the company produces state-of-the-art electronic systems and equipment. According to statistics from Value Research, the company has no debt. After hitting a 52-week high ₹270.10 on the NSE, shares of Bharat Electronics closed today at ₹266.90 each, down 0.67% from its previous close. On 09-Aug-21, the stock hit a 52-week low of ₹162.35; therefore, at its current price of ₹266.90, it is trading 64% above its 52-week low. Even brokerages ICICI Securities and Prabhudas Lilladher are bullish on the stock. Possible new highs for the stock were set by ICICI Securities at a target price of ₹315 and Prabhudas Lilladher at ₹295 respectively.