India's Bharat Electronics revenue outlook still strong despite sluggish start, says Macquarie
18/09/2026 06:36
BUZZ-India's Bharat Electronics revenue outlook still strong despite sluggish start, says Macquarie ** Macquarie (maintains "outperform" rating with street-high PT of 550 rupees) says Bharat Electronics BAJE.NS received new orders worth $6.5 billion since August 26
** Order includes communication equipment, thermal imagers, AI-based software and cybersecurity solutions among others
** On a FY27 YTD basis, order inflow down 50% to 68 billion rupees ($710.11 million) due to timing, Macquarie adds
** However, brokerage maintains its year-end order target of 550 billion rupees as 723 billion rupee backlog at Q1-end provides "strong revenue visibility"
** On day, BAJE up 0.7% at around 398 rupees
** YTD, BAJE down 1%
($1 = 95.7600 Indian rupees)
(Reporting by Aishwarya Jain in Bengaluru)
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India's Bharat Electronics revenue outlook still strong despite sluggish start, says Macquarie