New Delhi, Nov. 4 -- Investors in Bharat Electronics Ltd (BEL) stock are a happy lot. The shares are up about 40% so far in 2025. Strong September-quarter (Q2FY26) results and healthy near-term prospects suggest the stock could continue to find support.

Robust execution lifted BEL's Q2 revenue by 26% year-on-year to Rs.5,764 crore. While the Ebitda (earnings before interest, taxes, depreciation and amortization) margin contracted nearly 90 basis points to 29.4%, it still came in ahead of analysts' expectations. The defence electronics company has maintained its FY26 guidance of 15% revenue growth and a 27% Ebitda margin, after a solid performance in first half of the year (H1) that saw 16% revenue growth and a 28.8% margin.

The company'...