On a back of a robust volume, Bharat Electronics Ltd (BEL) today opened 2% higher at Rs.94.10 and remained over Rs.94 levels, currently trading though at Rs.92.54, just about staying in the green, tuning in with market trend.
The stock price rose on its announcement that the Ministry of Defence (MoD) has signed two contracts worth of Rs. 3800 crore with the company for supply of Medium Power Radar and Digital Radar Warning Receiver (RWR) for Indian Air Force.
The Medium Power Radar (Arudhara) for Indian Air Force is the state-of-the-art 4D Surveillance Radar equipped with Active Aperture Phased Array Radar technologies based on Solid State TR Module Transmission. The Radar is indigenously developed and being manufactured by BEL and is expected to better the surveillance capability of Indian Air Force.