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Kotak Upgrades Bharat Electronics to Add Amid Improved Risk Reward Profile
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CNBC TV18•06-10-2026, 11:38
Kotak Upgrades Bharat Electronics to Add Amid Improved Risk Reward Profile
- •Kotak Securities upgraded Bharat Electronics from Reduce to Add following a recent stock correction of over 8 percent.
- •The brokerage trimmed its price target for BEL to ₹410 from ₹420, representing a modest upside potential.
- •Long-term growth is supported by a robust pipeline of major defence programmes including QRSAM, AMCA, and various naval projects.
- •Execution risks and potential margin normalisation prompted Kotak to lower its financial year 2028-2029 EPS estimates by 4 percent.
- •Bharat Electronics maintains strong overall analyst backing, with 37 out of 38 covering analysts currently maintaining a buy rating.
Key Questions Answered
Kotak Securities upgraded Bharat Electronics (BEL) from "Reduce" to "Add" following an improved risk-reward profile after the stock corrected over 8% in three months.
Kotak Securities cut its price target for BEL to ₹410 from ₹420, which implies an upside potential of 6.5% from the stock's previous closing price.
The long-term outlook is supported by large defence programmes such as QRSAM, AMCA, Project-75 India (P75I), and the Next Generation Corvette (NGC).
