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

New Delhi. There was good profit booking in some PSU stocks in the last few days. But, now once again the investor sentiment has turned positive on these stocks. Investors are buying these stocks after the correction. One such PSU is part Bharat Electronics Limited (BEL). Currently, this stock remains the favorite of investors. Brokerages are also showing confidence in these PSU stocks. This is the reason why 19 brokerage houses have given buy recommendation on BEL shares.

BEL shares have crossed the Rs 290 level on a closing basis, which is a good sign for it. Since then, buying sentiment has strengthened. On Wednesday, shares of BEL opened at Rs 294 against the previous closing price of Rs 291.80. Over 18.10 lakh equity shares were traded early in the morning. At 1:40 pm, shares of BEL were trading at Rs 289.90. 19 analysts and brokerage houses recommend buying the stock, with an average target price of Rs 340. This means that 16% upside in BEL shares is still to come.

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The company is moving in the right direction.
Brokerage firms Motilal Oswal, ICICI Securities, Prabholal Lilladhar, and Macquarie are bullish on BEL shares. He believes that the state-owned company is moving in the right direction for FY2025 with special focus on order inflows in H2.

Macquarie has given BEL an Outperform rating and a target price of Rs 350. The brokerage firm said YTD order inflows have declined so far, but this is not a cause for concern. 70-80% of BEL’s FY25 orders are single-tender orders, a result of the dedicated R&D efforts undertaken by the company over the last 7-8 years.

The amount doubled in a year.
BEL shares have given investors multi-bagger returns in the past one year. In one year, the price of this stock has increased by 112%. This PSU stock has gained 56% so far in the year 2024. Similarly, in the last six months, BEL shares have given investors a return of 45%.

(Disclaimer: The stock mentioned here is based on the advice of the brokerage houses. If you want to invest in any of them, consult a certified investment advisor first. News 18 of any profit or loss you make. will not be responsible).

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