Updated Jun 1, 2024 | 12:41 PM IST
Sanjiv Bhasin has recommended buying Bharat Dynamics shares. He said that defence stocks will do good if BJP wins. (Pic: Shutterstock/ET NOW)
Sanjiv Bhasin Defence Stock Recommendation: Ahead of the announcement of the Lok Sabha election 2024 results, ace investor and market guru Sanjiv Bhasin has made a bid prediction. In an exclusive conversation with ET NOW Swadesh, Bhasin said that defence stocks will outperform going forward. The three stocks which Bhasin named from the defence sector are HAL, BEL and Bharat Dynamics.
“In Bharat Dynamics, I see an upside of up to 20 per cent from the current market price. If the government wins (BJP), I can easily see an upside of 25 per cent in Bharat Dynamics,” he said.
Bharat Dynamics is a public sector company under the administrative control of Ministry of Defence. The company was set up in 1970. It manufactures ammunitions and missile systems for armed forces.
Bharat Dynamics Q4 Results
Bharat Dynamics in the fourth quarter (Q4FY2024) reported an YoY increase of 89 per cent in its net profit at Rs 288.8 crore. The company had posted a net profit of Rs 152.8 crore in the corresponding quarter of FY23.
The PSU’s revenue from operations increased by 7 per cent YoY to Rs 854.1 crore as compared to Rs 798.3 crore in the same quarter of the last fiscal. The company’s EBITDA in the reporting quarter zoomed by more than 70 per cent in the quarter to Rs 316.5 crore versus Rs 183 crore reported in Q4FY23.
Bharat Dynamics Dividend 2024 News
The board of state-run Bharat Dynamics has recommended a final dividend payout of 17 per cent on each stock of Rs 5 face value. This translates into a dividend payout of Rs 0.85.
“Recommended a final Dividend @ Rs 0.85 per share (face value of Rs.5/-each) for the year ended 31.03.2024. This Dividend upon approval by the shareholders at the ensuing Annual General Meeting(AGM) will be paid within 30 days from the date of AGM,” according to a company statement.
Bharat Dynamics dividend record date will be announced by the company in the due course and informed via exchanges.
Bharat Dynamics Share Price History
Bharat Dynamics is a constituent of S&P BSE 500. According to BSE analytics on May 1, the PSU defence stock has delivered a multibagger return of 168 per cent in just 6 months. In one year, the stock has moved northward by 183 per cent. In the last two and three years, the defence stock has delivered a mega return of 297 per cent and 762 per cent, respectively.
Bharat Dynamics commands a market cap of Rs 57,082.95 crore, according to BSE website.
Sanjiv Bhasin VIDEO
Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
