Bharat Electronics inches up on signing contracts with Ministry of Defence
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Bharat Electronics is currently trading at Rs. 92.87, up by 0.43 points or 0.47% from its previous closing of Rs. 92.44 on the BSE.
The scrip opened at Rs. 94.10 and has touched a high and low of Rs. 94.30 and Rs. 92.60 respectively. So far 315086 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 115.00 on 15-Sep-2022 and a 52 week low of Rs. 67.88 on 28-Mar-2022.
Last one week high and low of the scrip stood at Rs. 94.30 and Rs. 90.90 respectively. The current market cap of the company is Rs. 67571.60 crore.
The promoters holding in the company stood at 51.14%, while Institutions and Non-Institutions held 42.39% and 6.47% respectively.
The Ministry of Defence (MoD) has signed two contracts worth of Rs 3800 crore with Bharat Electronics (BEL) a DPSU for supply of Medium Power Radar and Digital Radar Warning Receiver (RWR) for Indian Air Force.
The Medium Power Radar (Arudhara) for Indian Air Force is the state-of-the-art 4D Surveillance Radar equipped with Active Aperture Phased Array Radar technologies based on Solid State TR Module Transmission. The Radar is indigenously developed and being manufactured by BEL based on Electronics and Radar Development Establishment (LDRE) - DRDO design. The above system will further enhance the surveillance capability of Indian Air Force with the state-of-the-art Modern Radar Technologies including best in class ECCM capabilities.
The Digital Radar Warning Receiver (RWR) for Fighter Aircraft of Indian Air Force has been indigenously designed & developed by Combat Aircraft Systems Development & Integration Centre (CASDIC), DRDO. The supply of advanced EW Systems will significantly enhance the battle-suitability of IAF fighter aircraft while undertaking operational missions against adversaries.
BEL is a multi-product, multi-technology, multi-unit conglomerate with various products in the areas of military communication, radars, naval systems, C4I systems, weapon systems, homeland security, telecom & broadcast systems, electronic warfare, tank electronics, electro-optics, professional electronic components and solar photovoltaic systems.
