Bharat Electronics stock tumbles ~8% following block deals

Shares of Bharat Electronics (BEL) fell ~8% on the BSE in morning trade after the company witnessed two block deals. As per media reports, ~11.7 mn shares changed hands in two block deals. BEL’s core product offerings are radar and weapon systems, defence communication, and electronic warfare. The company’s order book of Rs41,645cr as on Q1FY19 (~3.9x FY18 sales) gives revenue visibility for next four years.

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