Bharat Electronics gained 4.36 percent to Rs 183.10 at 10:40 IST on BSE after net profit rose 19.1 percent to Rs 4.12 billion on 46.1 percent rise in net sales to Rs 24.31 billion in Q2 September 2017 over Q2 September 2016.
According to Business Standard, the result was announced after market hours 30 October 2017. Meanwhile, the S&P BSE Sensex was down 74.04 points or 0.22 percent at 33,197.13. Huge volumes were witnessed on the counter. On the BSE, 26.66 lakh shares were traded on the counter so far as against the average daily volumes of 3.01 lakh shares in the past one quarter. The stock had hit a high of Rs 192.50 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 182 so far during the day. The stock had hit a 52-week low of Rs 109.51 on 9 November 2016.
The large-cap company has equity capital of Rs 2.45 billion. Face value per share is Re 1. Bharat Electronics was established at Bangalore, India, by the Government of India under the Ministry of Defence in 1954 to meet the specialised electronic needs of the Indian defence services. Over the years, it has grown into a multi-product, multi-technology, multi-unit company servicing the needs of customers in diverse fields in India and abroad.
