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Bharat Electronics rallies 3% on receiving orders worth Rs 3000 crore

Sep 18, 2023

By: BlinkX Research Team

Bharat Electronics Limited stock surges over 3% during Monday's trading session as the company received an order of Rs2,118.57 crore from Cochin Shipyard Limited.

As per regulatory filing, the order is for supply of various equipment consisting of Sensors, Weapon equipment, Fire Control systems and Communication equipment for six numbers of Next Generation Missile Vessels (NGMV), class of anti-surface warfare corvettes for Indian Navy, the company said.

Further, this project will have participation of Indian electronics and associated industries, including MSMEs, which are sub vendors of BEL.

The Company has also received additional orders worth Rs 886 crore since the last disclosure on August 25, 2023 and the said orders pertain to Upgrade of AFNET SATCOM N/W, Upgrade of Akash Missiles with RF Seeker, Inertial Navigation System and other equipments with accessories and spares etc., the company said.

With this BEL has in all received orders worth Rs.14,384 crore till now in the financial year 2023-24.