BEL shares fall 0.2% as Nifty gains

Shares of Bharat Electronics Ltd. traded 0.2 per cent down at Rs 101.6 on Monday at around 01:02PM (IST), while the benchmark BSE Sensex advanced 230.52 points to 60852.29.

As many as 277,292 shares changed hands on the counter with a total value of Rs 2.81 crore.

The stock quoted a 52-week high price of Rs 115.0 and a 52-week low of Rs 62.29.

On the technical charts, the 200-DMA of the stock stood at Rs 93.99, while 50-DMA was at Rs 102.96. If a stock trades above 50 DMA and 200 DMA, it usually means the immediate trend is up. On the other hand, if the stock trades below 50 DMA and 200 DMA both, it is considered a bearish trend and if it trades between 50DMA and 200DMA, then it suggests the stock can go anywhere.

Shares of the company have advanced 47.29 per cent in the past one year, while Sensex has risen 3.08 per cent during the same period.

According to BSE data, the stock trades at a price-to-earnings multiple of 27.08 and a price-to-book ratio of 4.18. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price to book value indicates the inherent value of a company and reflects the price that investors are ready to pay even for no growth in a business. The stock belongs to the Defence Contractor industry.

(What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

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