Sanjiv Bhasin Bets Big on BEL: A Promising PSU for Investors
Investors and market enthusiasts always keep an ear to the ground for recommendations and insights from leading figures in the investment world. Among such figures, ace investor Sanjiv Bhasin stands out for his astute market predictions and stock picks. Known for his seasoned analysis, Bhasin recently shared his optimism about the stock market’s trajectory and a particular public sector undertaking (PSU) that caught his eye.
Reflecting on his successful prediction, Bhasin shared, “I had predicted that Nifty would reach 22,400 on March expiry, but it crossed 22,500. Get ready for 23,000 in April.” His words not only reflect his confidence in the market dynamics but also herald a period of potential gains for mindful investors. Bhasin emphasized the significant moves of several industry leaders, including Reliance, Maruti, HDFC, ICICI, and L&T, pointing out their pivotal roles in the current market upswing.
Among the myriad of opportunities in the stock market, Bhasin highlighted his top stock pick within the PSU sector. According to him, “there is no company better than BEL (Bharat Electronics Limited).” The reasons behind his strong endorsement of BEL become clear when delving into the company’s fundamentals and future prospects.
Analyzing the strengths of Bharat Electronics Limited, Bhasin pointed out the robustness of the company’s order book, which is filled up to 2027-28. This backlog not only assures sustained revenue for the company but also underscores its critical role in the domains of defence and electronics. Bhasin remarked, “Be it defence, electronics. And you can see how the market has shifted towards capital goods. Order contracts pipeline till 2027-28.” This statement highlights the significant market shift towards capital goods, with BEL well-positioned to benefit from this trend.
Adding a numerical perspective to his bullish stance, Bhasin forecasted that BEL’s share price could reach a remarkable Rs 350 by 2024, signaling significant growth potential from its closing price of Rs 201.85 on March 27, the final session of FY 2023-24, wherein it noted a 1.2 per cent rise on an intraday basis. This prediction not only showcases Bhasin’s confidence in BEL’s operational capabilities and market positioning but also offers investors a potentially lucrative opportunity in the evolving PSU landscape.
As the market momentum favours sectors such as defence and capital goods, BEL represents an appealing proposition for investors seeking to capitalize on India’s strategic sector growth. Bhasin’s endorsement and analysis serve as a beacon for investors navigating the complex market waters, looking for strong and stable returns in the coming months and years.
Investors would do well to keep a close eye on developments in BEL and consider the insights from seasoned investors like Sanjiv Bhasin. With the right strategy and timing, investing in promising PSUs such as BEL could yield substantial rewards, bolstered by India’s continued focus on strengthening its defence capabilities and infrastructure.
