Is BEL Still a Buy? Motilal, Nuvama Forecast double-digit upside
BEL's Q3FY26 results have exceeded expectations, prompting brokerages to revise their outlook. Motilal Oswal and Nuvama rate the company as a Buy with target prices of Rs 520 and Rs 525 respectively, while Nomura predicts limited upside potential. The company's growth is fueled by strong execution, a robust order book, and its involvement in defence platforms.