Bharat Electronics rises on inking MoU with ADA
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Bharat Electronics is currently trading at Rs. 95.80, up by 0.25 points or 0.26% from its previous closing of Rs. 95.55 on the BSE.
The scrip opened at Rs. 95.80 and has touched a high and low of Rs. 96.00 and Rs. 94.80 respectively. So far 95385 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. 62.30 on 24-Feb-2022.
Last one week high and low of the scrip stood at Rs. 98.65 and Rs. 93.40 respectively. The current market cap of the company is Rs. 69844.94 crore.
The promoters holding in the company stood at 51.14 % while Institutions and Non-Institutions held 42.39% and 6.47% respectively.
Bharat Electronics (BEL) has signed a Memorandum of understanding (MoU) with Aeronautical Development Agency (ADA), Defence Research and Development Organisation (DRDO), for the Advanced Medium Combat Aircraft (AMCA) programme. The MoU was announced on the sidelines of the Bandhan event held at Aero India 2023.
The Advanced Medium Combat Aircraft is a 5th Generation, multi-role, all-weather fighter aircraft designed with high survivability and stealth capability. The MoU aims at leveraging the complementary strengths and capabilities of BEL and ADA, wherein both the parties will co-operate for the design, development, qualification, production and supply of Internal Weapon Bay Computer and other LRUs for AMCA and provide lifetime product support to the Indian Air Force.
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.
