490% return in 5 yrs: BEL shares up 9% in week - How much upside do experts see in defence PSU stock post Q2 results?
BEL share price rally: Shares of Bharat Electronics Limited ended higher on Wednesday, November 4, as Q2 results 2026 euphoria fuelled the rally in the defence PSU stocks. The state-owned defence manufacturer reported a 19.6% annual jump in its net profit for the second quarter of financial year 2026-27.
The defence PSU stock ended nearly 4.56% higher on Wednesday, November 4. The defence PSU stock has delivered nearly 490% return over the last five years. The Navratna defence PSU reported a strong set of results with profits and revenues outperforming expectations.
BEL share price outlook
BEL posted a strong set of results, as the defence PSU delivered stronger than estimated revenue, EBITDA, profit, highlighted Motilal Oswal in its report. While base order inflows declined 31% on an annual basis, the company is hopeful of a large order worth ₹200 billion in the coming quarters.
“There have been certain delays by the MoD in finalizing projects, but we expect inflows to ramp up in the coming quarters. We maintain our estimates and expect a revenue/EBITDA/PAT CAGR of 15%/14%/15% over FY26-29,” read Motilal Oswal report.
BEL share price recommendation, target price
Motilal Oswal maintained a ‘Buy’ rating for the stock with a target price of ₹540 per share. “HE is currently trading at 40x/34x/30x P/E on FY27E/FY28E/FY29E EPS. We arrive at our revised TP of INR540, based on a roll-forward to 45x Dec’28E earnings. Reiterate BUY.”
BEL share price trend
BEL share price closed 4.56% higher at ₹397.10 per share on BSE with a market capitalisation of ₹2,90,271.32 crore on Wednesday, November 4. The defence PSU stock touched its 52-week high level of ₹473.25 per share on March 6, 2025. The stock dipped to its 52-week low level of ₹354.70 per share on October 23, 2026.
The Navratna PSU has delivered 9.17% return in one week, 6.86% return two weeks. Its share price value has surged 192.20% returns in three years and 490.75% return in five years.