Bharat Electronics moves up on signing MoU with DMRC

Bharat Electronics is currently trading at Rs. 110.30, up by 0.65 points or 0.59% from its previous closing of Rs. 109.65 on the BSE.

Bharat Electronics
Bharat Electronics

The scrip opened at Rs. 110.05 and has touched a high and low of Rs. 111.15 and Rs. 109.70 respectively. So far 185149 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. 112.20 and Rs. 106.30 respectively. The current market cap of the company is Rs. 80151.72 crore.

The promoters holding in the company stood at 51.14%, while Institutions and Non-Institutions held 42.99% and 5.88% respectively.

Bharat Electronics (BEL) has signed a Memorandum of Understanding (MoU) with Delhi Metro Rail Corporation (DMRC) for jointly developing the Indigenous Communication-based Train Control System (i-CBTC), an important milestone in India’s journey towards self-reliance in Rail and Metro operations.

i-CBTC, being indigenously developed for the first time in India, will enable unmanned operations of metro and trains. It is a big leap forward in the field of metro and rail automation and will give a boost to the ‘Atmanirbhar Bharat’ mission of the Government of India. The project is being carried out under the ambit of the Ministry of Housing and Urban Affairs (MoHUA), Government of India. The MoU aims at leveraging the complementary strengths and capabilities of BEL and DMRC.

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.

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