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“We wish to inform you that the Board of Directors of the company through resolution passed by circulation on Tuesday, July 19, 2022, have approved second interim dividend of Rs 19.50 per equity share amounting to Rs 7,250 crore,” said the company in a filing to BSE.

Bharat Electronics Ltd., incorporated in the year 1954, is a Large Cap company (having a market cap of Rs 62851.91 Crore) operating in Defence sector.

The stock traded at a P/E multiple of 97.28, while the price-to-book value ratio stood at 19.49.

On the technical charts, the RSI of the stock stood at 64.8.

The Nifty IT index closed 0.08 per cent up at 27346.15.

At 9.19 am, the BSE Sensex was trading 619.97 points or 1.13 per cent higher at 55,387.59. Nifty50 was trading at 16,525.85, up 185.30 points or 1.13 per cent. Midcap and smallcap indices rose up to 0.90 per cent.

"We do see some possibility of de-globalisation into certain areas of manufacturing for self sufficiency across the globe. Sectors like capital goods and defense appear interesting apart from possible de-globalisation themes in the areas of electronics manufacturing, textiles, auto components. We are also positive on banking, energy and food related businesses."

“Traders should look for stock-specific buying opportunities and trade with a positive bias. In case of any declines, the immediate support for Nifty will be seen around the hourly 20-EMA around 16220,” traders said.

The U.S. dollar retreated on Wednesday as the euro extended its overnight bounce on relief Europe might be able to avoid the worst fears concerning energy shortages, and on the chance the European Central Bank may deliver a more aggressive rate hike.

The stock quoted a 52-week high price of Rs 153.4 and a 52-week low of Rs 93.2.