Bharat Electronics jumps on signing contract with Ministry of Defence
Bharat Electronics is currently trading at Rs. 259.40, up by 6.00 points or 2.37% from its previous closing of Rs. 253.40 on the BSE.
The scrip opened at Rs. 251.20 and has touched a high and low of Rs. 260.60 and Rs. 250.15 respectively. So far 1254930 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 340.35 on 10-Jul-2024 and a 52 week low of Rs. 179.20 on 15-Mar-2024.
Last one week high and low of the scrip stood at Rs. 264.45 and Rs. 240.15 respectively. The current market cap of the company is Rs. 189469.47 crore.
The promoters holding in the company stood at 51.14%, while Institutions and Non-Institutions held 38.28% and 10.59% respectively.
Bharat Electronics (BEL) has signed a contract with Ministry of Defence on February 20, 2025 to supply 149 Software Defined Radios for Indian Coast Guard at a total cost of Rs 1220.12 crore under Buy (Indian-IDDM) category.
These state-of-the-art radios will enable secure and reliable information sharing, collaboration, and situational awareness through high-speed data and secure voice communication. This will strengthen the Indian Coast Guard's capability to fulfil its core responsibilities, including maritime law enforcement, search and rescue operations, fisheries protection, and marine environment protection. Additionally, these radios will enhance interoperability for joint operations with the Indian Navy.
The project is a strategic step toward bolstering the Coast Guard's operational capabilities and supporting the Government of India's Blue Economy objectives by reinforcing maritime security. Aligning with the Atmanirbhar Bharat initiative, the contract will enhance the country's manufacturing capabilities for advanced military-grade communication systems, generating employment opportunities and fostering expertise development.
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.
