Share price of BEL falls as Nifty weakens
Bharat Electronics Ltd. slipped 0.23 per cent to Rs 232.9 in Monday's trade as of 10:45AM (IST). The stock hit a high price of Rs 233.15 and low of Rs 225.9 during the session.
The return on equity (ROE) for the stock stood at 21.53 per cent. Traded volume on the counter stood at 10:45AM shares and turnover at Rs 19.97 crore around that time. The stock of Bharat Electronics Ltd. quoted a 52-week high price of Rs 235.2 and 52-week low prices of Rs 100.01, respectively.
The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.44.
Promotor/FII Holding Promoters held 51.14 per cent stake in the company as of 31-Mar-2024, while FIIs held 17.56 per cent and domestic institutional investors had 18.06 per cent.
Key Financials The company reported consolidated sales of Rs 4329.58 crore for the quarter ended 31-Dec-2023, up 4.42 per cent from previous quarter's Rs 4146.12 crore and up 2.8 per cent from the year-ago quarter's Rs 4211.76 crore. Net profit after tax for the latest quarter stood at Rs 859.58 crore, up 40.22 per cent from the same quarter a year ago.
Technicals
The MACD signalled a bullish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices. It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect «buy» or «sell» opportunities. When the MACD crosses below the signal line, it gives a bearish
