High ROE and ROCE multibagger stock: This PSU company wins orders worth Rs 4300 crore and declares a healthy dividend!
The stock has an ROE of 21.95 per cent and a ROCE of 27.78 per cent with multibagger returns of 293.73 per cent.
Today, shares of Bharat Electronics Ltd (BEL) zoomed 2.32 per cent to Rs 93.59 per share from its previous closing of Rs 91.42.
BEL informed the exchanged that it has signed a contract worth Rs. 3000 crore with Bharat Electronics Ltd (BEL) for supply of integrated electronic warfare systems for the Indian Army from The Ministry of Defence (MoD), Govt of India. The company has also received several contracts totalling to Rs 1300 crore (approx.) during last fortnight from the Indian Navy for supply of Indigenously developed Fire control, Gun fire control, Surveillance, tracking, ESM, Sonar Systems etc.
In addition, the company declared a second interim dividend of Rs 0.60 (60 per cent) per equity share with a face value of Rs 1. The company confirmed that the interim dividend record date is Saturday, March 25, 2023.
BEL was established in 1954 in association with CSF, France (now, Thales), to meet the specialized electronic equipment requirements of the Indian Defence Services. In the current financial year 2022-2023, the company has received multiple orders from the Government of India and Ministry of Defence.
The stock has an ROE of 21.95 per cent and a ROCE of 27.78 per cent with multibagger returns of 293.73 per cent in just 3 years. This PSU Large-Cap stock should be kept under radar.