The brokerage believes BEL may continue receiving orders from various platforms across services. Coupled withrobust execution, they believe the company is likely to achieve our higher-than-consensus EPS of INR 5.8/INR 6.8 forFY25/26E, respectively. The brokerage maintains BUY on BEL with an unchanged TP of INR 203 based on 30x FY26E EPS.
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