Bharat Electronics trades higher on signing MoU with Yantra India

Bharat Electronics is currently trading at Rs. 110.45, up by 2.15 points or 1.99% from its previous closing of Rs. 108.30 on the BSE.

Bharat Electronics
Bharat Electronics

The scrip opened at Rs. 108.40 and has touched a high and low of Rs. 110.55 and Rs. 108.05 respectively. So far 671071 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. 110.55 and Rs. 105.45 respectively. The current market cap of the company is Rs. 79640.04 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 memorandum of understanding (MoU) with Yantra India (YIL) for co-operation in the areas of ammunition hardware and military grade components to jointly address the requirements of Indian defence and export markets.

The pact aims at leveraging the complementary strengths and capabilities of BEL and YIL, a state-owned defence company, and sharing of manufacturing and test infrastructure/resources for the production of arms and ammunition and related systems.

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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