 "BEL stock surges on Rs 3,172 crore-order win from Armoured Vehicles Nigam")
BEL stock soars: Shares of Bharat Electronics Limited (BEL) rose as much as 2.20 per cent to hit an intraday high of Rs 312.95 per share on Friday.
The rise in share price came on the back of an order win worth Rs 3,172 crore from Armoured Vehicles Nigam Limited (AVNL).
In an exchange filing, the company said, Navratna Defence Public Sector Undertaking, Bharat Electronics Limited (BEL), has signed a contract valued at Rs 3,172 crore with Armoured Vehicles Nigam Limited (AVNL) on June 28, 2024, at AVNL Headquarters in Chennai.
Under the terms of contract, BEL will be responsible for the supply and installation of an advanced, domestically designed Sighting and Fire Control System (FCS) for upgrading BMP 2/2K Tanks of the Indian Army, along with offering an extensive engineering support package, BEL said in a statement.
In addition, BEL has also confirmed other orders totaling Rs 481 crore since their last disclosure on May 22, 2024. These orders include Doppler Weather Radar, Classroom Jammers, spares, and related services.
Cumulatively, BEL has now secured orders worth Rs.4,803 crore in the current financial year (FY24).
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Founded in 1954, Bharat Electronics Limited (BEL) is renowned for its expertise across various domains. It specialises in the design, development, manufacturing, supply, and life cycle support of strategic electronic products and systems.
Initially, BEL catered to the specialised electronic requirements of the Indian defence services. Today, it has evolved into a diversified entity with multiple products and technologies, serving customers domestically and internationally.
BEL's product portfolio includes a wide range of strategic electronic products such as radar warning receivers, composite communication systems, night vision devices, versatile communication systems (VCS), IFF Interrogators, LRFs, X-Ray tubes, radar fingerprinting systems, ESM systems, V/UHF search receivers, shelters, PCB assemblies, cable harness components, and mechanical assemblies.
Through its comprehensive capabilities and commitment to innovation, BEL continues to play a crucial role in enhancing India's defence capabilities while expanding its footprint across global markets.
The market capitalisation of BEL is Rs 2,25,872.17 crore, according to Bombay Stock Exchange (BS).
The 52-week high of the stock is Rs 323 while its 52-week low is Rs 120.70 per share.
At 10:30 AM, shares of BEL were trading 0.91 per cent higher at Rs 309 per share. In comparison, BSE Sensex was trading 0.23 per cent higher at 79,213.96 levels.