BEL : Strong Breakout with Strong Q4 Results 🔥🔥🔥

BHARAT ELECTRONICS (BEL)

About Company :
Bharat Electronics Ltd. engages in the manufacture and supply of strategic electronic products to defense services. Its products are weapon systems, radar and fire control systems, electro optics and communication, vacuum interrupters, electronic voting, telecom and SATCOM systems, semiconductor devices, microwave and transmitting tubes, solar products and systems. The company was founded on April 21, 1954 and is headquartered in Bangalore, India.


*Analysis :
BEL has formed Cup & Handle kind of a chart pattern on Daily Chart and has given a strong breakout, hits over 3-year high.


*Strong Q4 Results:
BEL reported a strong all-round performance in Q4FY21 despite a challenging environment. Robust order inflows at Rs 15,280 crore, up 15.8 per cent on YoY and order book at Rs 53,434 crore for the year provide good revenue visibility over the medium to long term. Also, strong balance sheet provides confidence about the continued accelerated business trajectory for the company

Looking good at CMP for further upside movement :)