Defence PSU Bharat Electronics has emerged as a strong technical play, with an improving price structure and sustained buying interest, positioning the stock for further upside in the coming months, according to Bajaj Broking.
The has been on an uptrend in recent times, rising 7% in 1 month, 7% in 3 months, and 45% in 1 year.
However, it fell 2% to ₹441.10 in intra-day deals today. The PSU stock hit its 52-week high of ₹473.25 in March 2026 and its 52-week low of ₹293.70 in April 2025.
The stock has given returns in the long term, soaring almost 950% in 5 years.
Bullish technical setup signals further upside
According to Bajaj Broking, the stock is currently trading in a structural uptrend, forming higher highs and higher lows across timeframes, which indicates continued strength and trend sustainability. “The stock is in a structural uptrend, forming higher high and higher low in all time frames, signaling strength and continuation of the uptrend,” Bajaj Broking said.
Bajaj Broking highlighted that the entire price movement over the past eight months has been contained within a rising channel, reflecting sustained demand at elevated levels. On shorter timeframes, the stock has entered a consolidation phase after a sharp rally in the first three weeks of April and is now nearing a breakout from a bullish flag pattern, suggesting a continuation of the uptrend and offering a fresh entry opportunity.
The brokerage has recommended a buying range of ₹440–450 for , with a target price of ₹495 over a six-month horizon, implying a potential upside of around 11%.
Bajaj Broking expects the stock to extend its upward trajectory towards ₹495, which coincides with the 123.6% external retracement of the previous decline ( ₹473–400) and the upper band of the rising channel.
“We expect the stock to extend the up move and head towards 495 levels in the coming months, being the confluence of key retracement levels and the upper band of the rising channel,” Bajaj Broking said.
On the downside, Bajaj Broking noted that immediate support is placed at ₹420–430 levels, which aligns with the 50-day EMA and the 61.8% retracement of the recent rally ( ₹400–464). It also pointed out that momentum indicators remain favourable, with the daily MACD sustaining above its nine-period average, reinforcing a positive bias on the stock.
Bharat Electronics Q4 date and Q3 results
Bharat Electronics, the under the Ministry of Defence, is scheduled to announce its Q4 FY26 results on April 28, with expectations of a strong operational performance driven by robust execution and order inflows.
The company reported a 20.8% year-on-year rise in net profit to ₹1,590 crore for the period, compared to ₹1,311 crore in the corresponding quarter last year. This growth came despite an ₹16.6 crore impact arising from the implementation of new labour laws, indicating resilience in profitability.
Revenue for the quarter increased 23.7% to ₹7,122 crore from ₹5,756 crore a year ago, reflecting strong business momentum. Operating performance remained healthy, with EBITDA rising 28% YoY to ₹2,117 crore, supported by improved execution and operating leverage.
At the end of the quarter, Bharat Electronics maintained a robust order book of ₹73,015 crore, providing strong visibility for future growth.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.