BEL share price edges higher despite Nippon India Mutual Fund booking profit in defence PSU
BEL share price rose marginally on Thursday, inching near its 52-week high level. BEL shares gained as much as 0.71% to ₹ 395.70 apiece on the BSE.
The gains in BEL share price today comes despite a recent stock exchange disclosure showing that a major mutual fund house has sold shares of the defence PSU company.
Nippon India Mutual Fund has sold a significant number of equity shares of Bharat Electronics Ltd (BEL) from the month of March 2020 to June 2025.
According to a stock exchange filing, Nippon India Mutual Fund sold 5,13,812 equity shares of BEL, representing 0.007% stake in the defence PSU, through the open market on the National Stock Exchange of India (NSE). The sale transactions were entered into from 13 March 2020 to 9 June 2025.
Prior to the transaction, the fund house held 23,10,90,464 shares of BEL, aggregating to 3.1614% equity stake in the company. After the sale, the shareholding of Nippon India Mutual Fund in Bharat Electronics has dropped to 3.1544%, holding 23,05,76,652 shares of the company.
BEL share price has witnessed a sharp uptrend in recent months, with the defence PSU stock gaining 21% over the past one month and over 41% in the last three months. On a year-to-date (YTD) basis, BEL shares have risen 33%, while its one-year return stands at 35%.
Over the longer term, the defence PSU stock has delivered exceptional returns, surging by a staggering 230% over the past two years and delivering a multibagger return of 1,536% over the last five years.
At 12"40 PM, BEL share price was trading 0.25% lower at ₹ 391.90 apiece on the BSE.
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.
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