Navratna CPSE Shares to Buy: Defence equipment and systems maker Bharat Electronics Ltd’s shares have delivered a return of 43 per cent so far in 2025, sharply outperforming gains of 5.2 per cent and 4.4 per cent in the Nifty 50 and Nifty PSE indices, respectively. As of June 23, the Navratna PSU stock has gained almost 10 per cent in a month. Most analysts have positive views on the PSU stock citing factors such as sectoral tailwinds and a robust order book, with government focus on enhancing defence-related procurements going forward. 

How BEL shares have fared among peers vs Nifty 50 

Here’s how the Navratna defence stock has performed so in different timeframes, as of June 23: 

BEL Latest News: Navratna PSU stock enters Sensex

On Monday–its first day as a Sensex constituent, the BEL counter rose 3.2 per cent to settle at Rs 420.9 apiece on BSE.

BEL and Trent entered the 30-scrip benchmark gauge with effect from June 23, replacing Nestle India and IndusInd Bank. 

The Sensex inclusion is expected to lead to inflows to the tune of $378 million for the BEL stock, according to brokerage Nuvama’s estimates. 

Historically, Sensex inclusions tend to see intraday upmoves, aided by stronger volumes, according to Nuvama.

On Friday, BEL said it had received orders amounting to Rs 585 crore. This was on top of its last disclosure on June 5.

“Major orders received include (a) fire control and sighting system for missiles, communication equipment, jammers, spares, services, etc.,” said the PSU post-market hours on Friday. 

BEL Stock News: Analyst targets in the range of Rs 441-450 per share

Last week, Zee Business analyst Priyanka Anand gave a ‘buy’ call on the BEL stock with a one-year target of Rs 450. 

As of Monday, the target implies an upside of 6.9 per cent in the stock. 

ALSO READ: Should you buy Navratna PSU BEL stock for long term now? Fundamental stock picks and more

How analysts view BEL shares 

Most analysts are upbeat about the growth prospects in BEL, citing strong growth visibility. 

According to Sharekhan, in FY26 so far, BEL has bagged more than Rs 6,200 crore worht of orders, which is about one-fourth of the company’s annual guidance of Rs 27,000 crore. Beyond FY27, BEL is assisting the Defence Research and Development Organisation (DRDO), the country’s premier agency for military-focused R&D, in developing Kusha, a homegrown alternative to the S-400 air defence system.

Sectoral tailwinds having their roots in the country’s growing defence production is positive for the stock, say analysts. 

According to Sharekhan, BEL’s order book, at more than Rs 71,650 crore, is robust and equivalent to 2.5 times of FY25 sales. “BEL stands to benefit from growing defence spends in India, the structural trend of indigenisation and export opportunities,” wrote Sharekhan analysts in a research report dated June 18. 

Key risks 

• Delayed order execution and slower pace of fresh orders 
• Higher raw-material prices and shortage of critical components 
• Competition from private players 

Geojit has maintained a positive outlook on BEL citing the government’s strong emphasis on domestic manufacturing, the growing contribution of electronics in defense applications, and the PSU’s established market leadership, its robust order backlog, and a consistently healthy margin profile.

The brokerage has a ‘buy’ call on the stock with a target price of Rs 441 per share. 

BEL stock valuation 

* Price-to-earnings on a trailing 12-month basis 

Considering the upgrade in its earnings estimates and the anticipated large order inflow in FY26, Geojit values BEL at a PE multiple of 42 times the FY27E EPS.