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CNBC TV18

Jefferies, Macquarie raise Bharat Electronics price target to ₹550 after June-quarter results

AI Market Summary
Broker upgrades for India's Bharat Electronics (BEL) after Q1 results lift sentiment toward domestic defence names. Jefferies and Macquarie raised targets to ₹550 and reiterated confidence in FY order inflow guidance (₹55,000 crore) and ~15% earnings CAGR, despite weak quarterly order timing and sequential margin pressure. The news is primarily stock-specific but can marginally support Indian equity risk appetite via sector rerating expectations.
Impact level
● Low
AI InsightAI Insight
▲ Bullish
⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
Jefferies and Macquarie lifted their price targets on Bharat Electronics Ltd. (BEL) to ₹550 after the company reported its June-quarter results, implying 36% upside from current levels. The brokerages said quarterly EBITDA was in line with expectations and noted BEL kept its full-year order inflow guidance unchanged at ₹55,000 crore. Jefferies also reiterated its projection for BEL’s earnings to grow at a 15% compounded annual growth rate, citing management’s maintained full-year revenue growth guidance. BEL reported June-quarter revenue of ₹5,533 crore, up 25% year on year but down 46% sequentially.
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