Bharat Electronics (BEL) shares started trading at ex-Bonus share price on 15th Sept 2022Corporate Action in BEL explained.
On 15th Sept 2022 BELOpened at 114.65which was it's Day High,Made Low at 108.60 and Closed at 110.95
BEL declared bonus equity shares in the ratio of 2:1Investors of BEL will get 2 shares for every1 share
Bonus share issue is a corporate action wherein a company issues bonus shares to its existing shareholders free of cost. As a result, the number of outstanding shares increases while the price of each share decreases.
Ministry of Defense is determined to make India self-reliant in Defense.The indigenization efforts have helped Defense sector stocks give 55% returns to Investors in one year.
Being one of the Navratna PSU company of India, Order flows in BEL boosted shares by 72% in one year.Target of IIFL in BEL was 363 before this corporate action
If you have BEL in your portfolio, you can continue to hold it.If you are planning to buy BEL wait for some meaningful correction