Choice Equity Broking has given a Buy rating to Bharat Electronics Limited (BEL) and increased its target price to ₹500, up from ₹420. The recommendation was made in a report dated June 25, 2025, based on the company’s strong future outlook.
BEL currently trades around ₹408 and has a very large order book worth ₹71,650 crore, which is three times its FY25 revenue. The brokerage believes that BEL will continue getting more orders due to emergency defense needs and faster execution of ongoing projects.
Some of the key upcoming orders include a ₹30,000 crore QRSAM project and the ₹40,000 crore Project Kusha, both of which will boost future revenue. BEL is also working on various defense systems like LRSAM, radar solutions, NGC subsystems, and additional LCA (Light Combat Aircraft) orders.
The company has a wide range of products and is a major player in India’s defense sector. Its steady performance and strong pipeline make it well-positioned for long-term growth and market leadership.
Looking ahead, Choice Equity Broking has introduced FY28 estimates and values the stock at 40 times its average estimated earnings for FY27 and FY28. The revised price target reflects their strong confidence in BEL’s ability to grow and execute major projects successfully.
In summary, BEL is seen as a solid investment choice with strong growth potential in India’s growing defense industry. Investors are advised to consider buying the stock.
