BEL bolsters up
Bharat Electronics Ltd (BEL) is currently the top gainer on the BSE, rising 7.5% to hit an intraday high at Rs.98.35 and this is on the back of robust volume of more than 2x.
The company is literally getting flooded with orders from the Ministry of Defence. One order holds 10 contracts worth Rs.5468 crore and the other holds two contracts worth Rs.2696 crore; a total of 12 contracts totaling Rs.8164 crore.
The orders include - a Naval Gun Fire Control System, weapon locating radar for Indian Army, 90 medium lift helicopters, AMC for Akash missile system, automated air defence control and reporting system, instant fire detection and suppressing system, state-of-the-art radios for Indian Navy, communication equipments, Sarangs to be installed on Kamov 31 Helicopters of Indian Navy which intercepts, detects and identifies the Radar emitters comprising state-of-the-art technologies and three more projects with the Indian Navy.
All these are flagship projects showcasing the indigenous design and manufacturing capabilities of Indian Defence industry led by BEL, involving other Public Sectors, Private Sectors and MSMEs.
Last week also the company had received orders worth Rs.6800 crore from the Indian Navy and Army.
With India bolstering its defence systems, BEL will emerge as one of the biggest beneficiaries.