Bharat Electronics Approves Interim Dividend: Detail Here

Shares of the company were upbeat today in anticipation of the announcement breaking the two-session losing streak.

What Happened: Government-owned Bharat Electronics on Friday announced that the company’s board has approved a second interim dividend for FY23. The company’s board has approved a dividend of ₹0.60/share for the current financial year. The record date for dividend payment is March 25. Dividend payouts will be made by April 17.

See Also: SAIL Interim Dividend Details Are Here

The defense electronics company’s Q3 earnings received a mixed response from the market and analysts. The revenue jump of 12% year-over-year to ₹4,211 crore was a positive, however, the company’s net profit remained muted as it grew around 2.8% YoY to ₹613 crore.

Domestic brokerage firm ICICI Securities maintained its ‘buy’ rating for the stocks, as it sees around 33% upside in the stock. On the other hand, Geojit BNP Paribas maintained its ‘hold’ rating for the stock with a price target of ₹107.

Price Action: Shares of Bharat Electronics traded 2.35% higher at ₹93.80 in the late hours of trading on Friday.

Read NextGAIL Dividend Details Are Here

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Posted In: Defense ContractorDividendDividend EarnerICICI SecuritiesPublic Service EnterpriseQ3FY23