BEL Block Deal: Over 15 lakh shares change hands a day after Q4 results
Sarthak Kumar
Shares of Bharat Electronics Ltd. (BEL) remained in focus on Thursday after around 15.5 lakh shares changed hands in a block deal in the open market, a day after the defence PSU reported its Q4FY26 earnings and issued strong growth guidance.
The stock was trading nearly 3% higher at ₹424.55 on the NSE in early trade. Around 15.5 lakh shares were exchanged in a block transaction, though details of the buyers and sellers were not immediately known.
The block deal comes after BEL’s management shared an optimistic outlook during its Q4FY26 earnings concall, guiding for over 15% revenue growth, EBITDA margins above 28%, and order inflows exceeding ₹55,000 crore for FY27.
The company also highlighted that it is entering FY27 with a robust order book of around ₹73,900 crore, providing strong execution visibility over the coming years.
A major focus area for investors remains the Quick Reaction Surface-to-Air Missile (QRSAM) programme. Management indicated that the order is likely to be signed around June or July 2026, with production expected to commence roughly 18 months thereafter.
Market participants have been closely tracking the QRSAM order, which is considered one of the most significant upcoming defence electronics opportunities and could materially improve BEL’s revenue trajectory from FY28 onwards.
Brokerage firm Nuvama Institutional Equities maintained its “Buy” rating on Bharat Electronics with a target price of ₹485, though lower than its earlier target of ₹525.
According to the brokerage, BEL continues to offer a steady growth outlook backed by reasonable valuations and a strong defence order pipeline. Nuvama said large-ticket orders from the company’s nearly ₹1 trillion opportunity pipeline are expected to materialise over the next two years.
The brokerage also identified programmes such as NGC, AMCA, P75I, Project Kusha, naval radars and Shakti Phase IV as key medium-term growth drivers for the company.
While Nuvama cut its FY27 and FY28 EPS estimates by around 7%, it still expects BEL to deliver nearly 14% EPS CAGR over FY26–FY28.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice.