Penny Stock to Buy: BEL Stock Reaches New Highs
BEL, a company in the defense sector, has become a hot penny stock that has made investors rich. Its stock was only 22 paisa in January 1999 and has since surpassed Rs 120. On Friday, the share touched a level of Rs 121.50, which is the highest level in 52 weeks. The stock has given a return of almost 55,000% over a period of 24 years. Experts predict that there is more upside potential in the share.
What is the Target Price?
Anuj Gupta, an expert at IIFL Securities, has set a short-term target price for the share. According to him, BEL’s share can go up to Rs 135, with a stop loss of Rs 104. Gupta also mentioned that the company’s total income reached Rs 6,545.28 crore in the March quarter, and its net profit was Rs 1,382.02 crore. He added that the company’s fundamentals are strong.
About the Company
BEL entered the defense sector in 1954 and has been active since then. As of March 31, 2023, the promoters held a 51.14% stake in BEL, while FII had a 16.42% stake and DII had a 25.42% stake.
Disclaimer
It should be noted that this information is provided solely for the purpose of tracking the stock’s performance, and it is not investment advice. Investing in the stock market is subject to risk, and investors are advised to consult their advisor before making any investment decisions.
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