2 weeks ago
BEL Still Has Room to Run, Expert Sees 20% Upside
An expert believes BEL’s share price may still go higher.
He said the stock could first reach Rs 485 and later Rs 530.
This could happen within about two quarters.
He pointed to BEL’s profit after tax of roughly Rs 6,140 crore.
He also said BEL’s valuation is lower than the wider industry’s valuation.
The stock stayed above the Rs 385-380 range during recent market swings.
The expert viewed this as a sign that investors were supporting the stock.
He suggested holding the stock or buying during declines, while using Rs 375 as a safety level.
An expert said BEL could rise to Rs 485 and then Rs 530 within up to two quarters.
The expert recommended holding existing positions and considering purchases on dips or at current levels.
BEL’s profit after tax was cited at around Rs 6,140 crore as evidence of earnings strength.
BEL trades at about 48.6 times earnings, below the industry’s approximate price-to-earnings multiple of 82.
The expert identified Rs 375 as a stop-loss level after noting BEL had held the Rs 385-380 range during market volatility.
- Who
- An unnamed market expert discussing BEL.
- What
- The expert forecast more than 20% potential upside for BEL and set a Rs 375 stop loss.
- Where
- The BEL stock market counter.
- When
- The forecast applies over a period of up to two quarters; the article also refers to recent market volatility.
- Why
- The outlook is based on BEL’s earnings, lower valuation than the industry, price resilience, and healthy order book.
Key facts
- Initial target
- Rs 485
- Second target
- Rs 530
- Potential upside
- More than 20% from current levels
- Stop loss
- Around Rs 375
- BEL profit after tax
- Approximately Rs 6,140 crore
- BEL price-to-earnings multiple
- About 48.6 times earnings
- Industry price-to-earnings multiple
- About 82 times earnings
- Support range
- Rs 385-380
Quotes
Unnamed market expert
The expert providing the bullish assessment of BEL’s fundamentals and valuation
“Yeh apne aap mein ek strength dikhata hai ki BEL kitna zyada strong hai”
businesstoday.in
“Mujhe lagta hai ki abhi bhi overvalued zone mein nahi hai”
businesstoday.in
Sources
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