Bharat Electronics shares, up 50% in six months, may test ₹420-425 short term and ₹500 in 1-2 years, says analyst Deepak Pal. A ₹76,000 crore order book, govt defence push, key projects like Akashteer and Project Kusha boost prospects. Near-term traders should watch PM Modi's Independence Day speech for defence sector cues. Retail sentiment remains bearish despite YTD 31% gains.