Bharat Electronics share hits 52-week high after bagging order from Indian Army
by mydhanush on 7 December 2023, 3 min read
Bharat Electronics Limited (BEL) share price surged over 13 percent in 6 days. The stock hit a 52-week high in the morning session on December 7. It was trading at Rs 160.50 per share on NSE, up Rs 4.35 or 2.79 percent.
The stock has been in focus after the company received an order from the Indian Army for AMC of Radars.
This project will have participation of Indian electronics and associated industries, including MSMEs. These are sub-vendors of Bharat Electronics, the firm said in an exchange filing.
The company has also received additional orders worth Rs 3,335 crore since September 15, 2023. The said orders pertain to AMC for AEW&C system (Airborne Early Warning & control), Uncooled TI sights, Software Defined Radios, SWIR payload, AMC for IACCS, Passive Night Vision Binoculars etc, said Bharat Electronics.
Cumulatively the received orders is worth Rs 18,298 crore in the current financial year 2023-24, it added.
In August, the Defence Acquisition Council granted acceptance for the procurement and installation of an electronic warfare suite on Mi-17 V5 helicopters from BEL.
BEL is a leading aerospace and defence electronics company. It primarily manufactures advanced electronics products. The company develops multi-product, multi-technology – diverse product range including radar, missile systems, electronic warfare & avionics, anti-submarine warfare, electro-optics, homeland security, civilian products, etc.
Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.
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