BEL shares gain 0.28% as Sensex falls

Shares of Bharat Electronics Ltd. traded 0.28 per cent higher in Friday’s session at 12:53PM (IST). The stock opened at Rs 142.85 and has touched an intraday high and low of Rs 143.4 and Rs 141.9, respectively, during the session so far.

The stock quoted a 52-week high of Rs 147.2 and a 52-week low of 87.0. About 113,656 shares changed hands on the counter so far.

Benchmark Nifty50 was up 1.15 points at 19766.35, while the BSE Sensex traded 60.68 points lower at 65921.8 at the time of writing of this report.

In the Nifty pack, 33 stocks traded the day in the green, while 16 were in the red.

Key Financials

For the quarter ended 30-Sep-2023, the company reported consolidated sales of Rs 4146.12 crore, up 12.88 per cent from the previous quarter’s Rs 3673.17 crore and up 2.74 per cent from the year-ago quarter. The company reported net profit of Rs 789.35 crore for the latest quarter.

Promoter Holdings
Promoters held 51.14 per cent stake in the company as of 30-Sep-2023, while FIIs held 17.19 per cent and MFs 18.85 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 117.91 on November 17, while the 50-DMA was at Rs 137.33. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.

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