Bharat Electronics Ltd: PSU Board Approves Share Split, Shares Rise 20% in 1 Month
1. Bharat Electronics Ltd Approves 2:1 Bonus Number
The company’s board of directors, in its regulatory filing dated August 4, 2022, stated: “Issue of free shares to shareholders of the company at a ratio of 2:1 (two free shares for one share held) in capitalizing 4,87,31,85,886/- (rupees four hundred eighty seven crores thirty one lakh eighty five thousand eight hundred eighty six only) to the credit of free reserves and surplus of the society. “
The company is also seeking to increase its authorized share capital and said: “Amendment to the existing clause V of the memorandum of association of the company for the increase of the authorized share capital. The increase in the authorized share capital of Rs.250 Crore at Rs.750 Crore was informed about the scholarships via our letter dated 28th January 2022 stating that this is subject to the approval of the Administrative Ministry The Administrative Ministry has granted approval for the increase in the authorized share capital of Rs .250 Crore to Rs.750 Crore subject to letter dated 1S1 August 2022.”
2. Bharat Electronics Ltd Share Outlook
The current market price of the share is Rs 275 each on BSE. The stock fell 2.90% at the close of trading yesterday, August 5, 2022. The 52-week high is Rs 287 each while the stock’s 52-week low is Rs 162 each . The ROE of the stock is Rs 23.11 and the PE is 24.88. It is a company with a high EPS TTM. Brokers have updated the recommendation or target price for the stock. The title gave a return of 56% in 1 year, 198% in 3 years and 69% in 5 years. In the past month alone, the stock has returned 20%.
3. Bharat Electronics Ltd Dividend History
The company has maintained a good dividend history and has consistently declared dividends over the past 5 years. It declared a stock dividend of 450% or Rs 4.5 per share for the year ending March 2022. It declared a stock dividend of 150% or Rs 1.50 per share on May 23, 2022 and the ex-dividend date is August 8, 2022. .
4. About Bharat Electronics Ltd
Guided by a far-sighted vision to make the country self-reliant in the field of defense electronics, Bharat Electronics Limited (BEL) was established in Bangalore in 1954 by the Government of India under the aegis of the Ministry of Defense (MoD) . From humble beginnings, BEL has come a long way. It is now a Navratna power unit and India’s leading defense electronics company. The current market capitalization of BEL is Rs 69,296.70 crore.