New Delhi, Oct. 9 -- Defence stock Bharat Electronics (BEL) has been hitting 52-week lows for the last three consecutive sessions. BEL shares dropped 1.7% to hit a new 52-week low of Rs.360.80 in intraday trade on Friday, 9 October, before ending with a modest gain of 0.38% at Rs.368.50, snapping their two-day losing run.

In the last one year, the stock has lost 10% compared to a 12% fall in the equity benchmark Sensex and a 5% gain in the BSE Industrials index. The stock has suffered a bigger loss of 16% in a shorter timeframe of 6 months. The Sensex has declined 5%, while the BSE Industrials has jumped 7% in the same period.

Over the last three and five years, however, the defence stock has delivered multibagger returns of 172% and 45...