Bharat Electronics surges on signing contract with Ministry of Defence

Bharat Electronics is currently trading at Rs. 269.70, up by 2.90 points or 1.09% from its previous closing of Rs. 266.80 on the BSE.

The scrip opened at Rs. 269.00 and has touched a high and low of Rs. 274.40 and Rs. 268.50 respectively. So far 250886 shares were traded on the counter.

Bharat Electronics
Bharat Electronics

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 274.40 on 25-Jul-2022 and a 52 week low of Rs. 162.40 on 09-Aug-2021.

Last one week high and low of the scrip stood at Rs. 274.40 and Rs. 249.00 respectively. The current market cap of the company is Rs. 65739.28 crore.

The promoters holding in the company stood at 51.14%, while Institutions and Non-Institutions held 43.76% and 5.11% respectively.

Bharat Electronics (BEL) has signed a contract with the Ministry of Defence, Government of India, worth around Rs 250 crore, towards supply of nine Integrated ASW Complex (IAC) MOD ‘C’ Systems. IAC MOD ‘C’ is an Integrated Anti-Submarine Warfare (ASW) system for all surface ships of the Indian Navy.

IAC MOD ‘C’ computes Fire Control Solutions and facilitates firing of ASW weapons such as Torpedoes and Rockets. The fire control system can be customized to meet the requirements of any platform of interest from small ships to large ships configuration. In addition, the system facilitates counter measure capability for incoming torpedoes through decoy launching system.

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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