Bharat Electronics shares drop 3.5% after mixed Q1 results; brokerages stay positive

Bharat Electronics shares declined 3.5% following the defence PSU's mixed first-quarter results. While profit grew 9% year-on-year, sequential earnings fell sharply, triggering the market reaction.

Despite the near-term disappointment, major brokerages maintained constructive outlooks. Motilal Oswal, Elara Capital and Dolat Capital reiterated positive ratings. Nomura kept a Neutral stance, citing BEL's robust order pipeline and medium-to-long-term growth potential as offsetting factors.