Bharat Electronics
Cluster: Apple Green
Recommendation: Buy
Price target: Rs1,715
Current market price: Rs1,600
Price target revised to Rs1,715
Bharat Electronics Ltd (BEL) is making the most out of the Aero India 2007 (aerospace show and defence exhibition) held at Bangalore. It is effectively utilising the platform to forge alliances, tie-ups and agreements with the leading manufacturers and contractors of defence equipment and systems globally. In the past couple of days, it has signed two important memoranda of understanding (MOUs). The first one is with Northrop Grumman, one of the largest global defence, electronic system and solutions and technology companies. The second one is with Elbit Systems Electro Optics (Elbit Systems) of Israel that specialises in state-of-the-art surveillance and security