Bharat Electronics shares gained 7% during Tuesday's trading session after the company reported strong results in the March quarter. 

What Happened: Bharat Electronics in the fourth quarter saw its net profit jump by 30% year on year to ₹1,797 crore. The company's quarterly revenue from operations rose 32% to ₹8,564 crore.

The company's board also declared a final dividend of ₹0.80 per equity share. Its EBITDA increased 24.85% to ₹2287.23 crore. EBITDA margin for the quarter stood at 26.70%. 

BEL's order book position as of April 1 stood at ₹75,934 crore.

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Brokerage Views: Motilal Oswal upgraded the stock to "buy" and increased the target price to ₹310. The brokerage is bullish on the company as it sees the firm maintaining its revenue market share at around 12-13% in the Indian defence sector.

The company is also taking initiatives to increase its share of exports and non-defence revenue. Motilal also expects the company to remain a beneficiary of defence indigenisation, which could be worth over ₹5 lakh crore in the next five years. 

Morgan Stanley has an "overweight" rating and raised the target price to ₹300. The earnings in the March quarter beat estimates mainly on strong margins. The 24.9% margin for FY24 was above the company guidance of 21-23%. 

Nomura also had a "buy" call with a target price of ₹300. The company also beat the brokerages earnings estimate by strong margins. The company has cash and cash equivalents of ₹11,000 crore in FY24 compared to ₹8,000 crore in FY23. 

Price Action: Shares of Bharat Electronics were trading 7% up at ₹277.15 on Tuesday session. 

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