 "Rolta, Bharat Electronics rally as consortium selected for Rs 50,000 crore defence project")
Shares of Rolta India and Bharat Electronics have rallied by up to 11% on the Bombay Stock Exchange (BSE) in early morning trade after these companies on Thursday announced that the ministry of defence had selected their consortium as a development agency for the battlefield management system (BMS) project worth over Rs 50,000 crore.
Rolta India has surged 11% to Rs 165, also its 52-week high on BSE, while Bharat Electronics gained nearly 5% at Rs 3,824.
The BMS project, categorized as a “Make in India” programme under the defence procurement procedure (DPP), will be one of the largest indigenous solutions offered to Indian defence, Bharat Electronics said in a statement.
This project is meant to deliver command and control capabilities to the fighting echelons, operating at the forward edge of the tactical battle area at the battalion and combat group levels, it said.
Rolta India has surged 11% to Rs 165, also its 52-week high on BSE, while Bharat Electronics gained nearly 5% at Rs 3,824.
The BMS project, categorized as a “Make in India” programme under the defence procurement procedure (DPP), will be one of the largest indigenous solutions offered to Indian defence, Bharat Electronics said in a statement.
This project is meant to deliver command and control capabilities to the fighting echelons, operating at the forward edge of the tactical battle area at the battalion and combat group levels, it said.