Corporate action: BEL declares dividends and stock split|STOCK FUTURE TIPS|EQUITY RESEARCH LAB| 28 january 2017

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Sub-division of existing one equity share of Rs 10/- each face value fully paid-up into 10 number of equity shares of Re.1/- each face value, subject to approval of the shareholders. 

• Bharat Electronics Limited has informed the Exchange that the Board of Directors, at its meeting held on January 27, 2017, has considered and approved:

(1) Sub-division of existing one equity share of Rs 10/- each face value fully paid-up into 10 number of equity shares of Re.1/- each face value, subject to approval of the shareholders.

(2) BEL has declared interim dividend of Rs.3/- per share for the year 2016-17.

The stock may react positively to the news:-

Stock view:

• Bharat Electronics Ltd ended at Rs 1540.35, up by Rs 26.3 or 1.74% from its previous closing of Rs 1514.05 on the BSE.

• The scrip opened at Rs 1520 and touched a high and low of Rs 1568.65 and Rs 1520 respectively.

• A total of 791027(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 34405.69 crore.

• The BSE group 'A' stock of face value Rs 10 touched a 52 week high of Rs 1568.9 on 12-Jan-2017 and a 52 week low of Rs 1009 on 01-Mar-2016.

• Last one week high and low of the scrip stood at Rs 1535 and Rs 1455.5 respectively.

• The promoters holding in the company stood at 74.41 % while Institutions and Non-Institutions held 20 % and 5.59 % respectively.

• The stock traded above its 50 DMA.  

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