19 brokerages are bullish on this PSU stock, you should also know how much more the rate will rise

New Delhi. In the last few days, there was good profit booking in some PSU stocks. But, now once again the attitude of investors has become positive on these stocks. Investors are buying these stocks after the correction. One such PSU stock is Bharat Electronics Limited (BEL). At present, this stock remains the choice of investors. Brokerages are also expressing confidence in this PSU stock. This is the reason why 19 brokerage houses have advised to buy BEL shares.

BEL stock has crossed the level of Rs 290 on closing basis, which is a good sign for it. Only after this, buying sentiments have strengthened in it. On Wednesday, BEL stock opened at Rs 294 against the previous closing price of Rs 291.80. More than 18.10 lakh equity shares were traded early in the morning. At 1:40 pm, BEL stock was trading at Rs 289.90. 19 analysts and brokerage houses are advising to buy this stock, whose average target price is Rs 340. That is, a 16 percent rise in BEL stock is still visible ahead.

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The company is moving in the right direction
Brokerage firms Motilal Oswal, ICICI Securities, Prabhulal Lilladher, and Macquarie are bullish on BEL shares. They believe that this government company is moving in the right direction for FY 2025 and there is a special focus on order inflow in H2.

Macquarie has given BEL an outperform rating and a target price of Rs 350. The brokerage firm said that YTD order inflow has declined so far, but this is not a matter of concern. 70-80% of BEL’s FY25 orders are single tender orders, which is a result of specific research and development efforts made by the company over the last 7-8 years.

doubled the money in one year
BEL stock has given multibagger returns to investors in the last one year. The price of this stock has climbed 112 per cent in one year. This PSU stock has jumped 56 per cent so far in the year 2024. Similarly, in the last six months, BEL stock has given 45 per cent return to investors.

(Disclaimer: The stocks mentioned here are based on the advice of brokerage houses. If you want to invest money in any of these, then first consult a certified investment advisor. AyraNews24x7 will not be responsible for any kind of profit or loss of yours.)

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