Stock Watch - Bharat Electronics

Stock Watch - Bharat Electronics - BEL

Bharat Electronics Limited (BEL) was established at Bangalore, India, by the Government of India under the Ministry of Defense in 1954 to meet the specialized electronic needs of the Indian defense services.

Positives
..Prime play on defencebusiness which is not vulnerable to economic down-cycles
..High profitability due to improved level of product sophistication
..Strong balance sheet and robust cash generation
..Cheap valuations and huge cash surplus (Rs.307 / share in FY08)

Key Risks
..Defense business involves significant government bureaucracy hence project delays are common.
..Opening of defense business to private sector competition may challenge BEL’s market share in defense electronics.

At current market price of 560,the stock trades at 6 times FY09 earnings. Long term investors can accumulate on declines, for very good returns.

NSE Trading Holidays 2024

Trading holidays for the calendar year 2024. The National Stock Exchange of India (NSE) has notified trading holidays for the calendar year 2024 as below: Muhurat Trading: Timings of Muhurat Trading shall be notified subsequently.

Historical BSE Sensex returns - updated 2013

We have already seen the historical returns of the BSE Sensex, which indicated an average return of about 20% per year, despite many yearly returns varying from -20% to +60%. The following table shows BSE Sensex historical data - open, close and the yearly returns of the sensex from 2000 to 2012. There are some interesting points to note from the above table. Post 2008 crash of about 50% and 2011 negative returns of 24%, markets have given positive returns of 81% and 25%. Also the average returns for the past years is about 20% despite the markets being down 24%. The lesson is pretty much clear - long term investing pays and one need not bother too much about the ups and downs of the markets. During the past few years, the returns from investing in individual stocks have been varied. Despite markets being at 2 year highs, only a few stocks are at similar highs, while most of them are still languishing well below their historical highs and are down anywhere between 8

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