/ Ways2Capital : BEL Falls Over 2% On Stake Sale ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 22 February 2017

Bharat Electronics Limited (BEL) has fallen by over 2% as the government said it is going to sell 5% of its stake in the state-run defence major. The floor price has been fixed at Rs 1498 per share, at a discount of about 4% to BEL’s closing price on Feb 20, which was Rs 1559.95. The sale of stake will raise Rs 160 crore for the government.

In the last one year, the stock has given a return of 32%, outperforming the BSE Sensex. Reliance Mutual Fund is the top fund house which has invested in the stock of the company. BEL is an Indian state-owned defence and aerospace company with about nine factories and has a few regional offices in India.

Bharat Electronics Ltd is currently trading at Rs 1522.8, down by Rs 37.15 or 2.38% from its previous closing of Rs 1559.95 on the BSE. The scrip opened at Rs 1510 and has touched a high and low of Rs 1527 and Rs 1510 respectively. So far 556242(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 34843.48 crore.

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