According to the exchange filing on Friday, India Electronics received new orders of Rs 572 crore following its last notification on April 7. The main order includes data communication units for Integrated Drone Detection and Interdiction Systems (IDDIS), S. SOFTWARE FT WAW Radio (SDR) and Attack Gun.
The company also secured agreements for artificial intelligence -based naval solutions, simulators, jammers, communication equipment, spare and related services. These additions come at a time when defense costs between increasing geographical political tensions.
Strong Q4 operations
Bell increased net profit by 30% in the quarter ended March 2024, the company said in an exchange filing on Sunday. The revenue for this period has increased from Rs 6,479 crore to Rs 8,564 crore a year ago.
The company’s board has recommended a final dividend of Rs 0.80 per equity share.
Bell’s Order Book by April 1, Rs. 76,000 crore, which shows an increase of 25.2% from the previous financial year.
Goods gain and rally of field
BL’s shares rose 3.85% to 363.9 on Friday at the National Stock Exchange. The stock has increased by 15.2% in the past week, while the last six months have increased by 30.9% and 40.6% in the previous year.
Bell has been a major contributor to the recent additions in defense sector stocks. The Nifty India Defense Index has rallied over 12% in the last three weeks, with the overall market capitalization of this sector. 1,17,163 crore has increased. Bell alone, during that period, his market cap has been Rs. 29,970 crore.
Also read | The Nifty is likely to proceed to 25,200-25,800: analysts
From a technical point of view, Bell Share is trading above all eight keys, including 150-day and 200-day SMAs. The 14-day-related strength index (RSI) is at 80.5, showing that the stock is currently over area.
(Disclaimer: The recommendations, suggestions, opinions and views given by experts are their own. This does not represent the views of the economic time)
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