Thousands of crores order received from Ministry of Defense!
The stock of public sector defense manufacturing company Bharat Electronics Limited is likely to see a strong jump. The thousands of crores of rupees order received by the company from the Ministry of Defense for the delivery of radars is going to boost the stock. The Ministry of Defense has signed an order of Rs 2463 crore with Bharat Electronics for the supply and service of ashwini Radars for the indian Air Force.
In a regulatory filing filed with the stock exchange, Navratna company Bharat Electronics said that BEL has signed an MoU of Rs 2463 crore with the Ministry of Defense for the supply and service of ashwini radars. This radar has been indigenously designed and developed by the Electronics and Radar Development Establishment of the Defense Research and Development Organization (DRDO).
This radar is capable of tracking slow-moving targets ranging from high-speed fighter aircraft to unmanned aerial vehicles (drones) and helicopters. BEL said, this mobile radar with ECCM specialization is deployable in all terrains. Along with this, BEL has received an order of Rs 17030 crore in the current financial year 2024-25.
The Defense Ministry said that the receipt of the radar will see a strong increase in the operational preparedness of the indian Air Force. An official statement issued by the ministry said, "As part of the government's efforts to strengthen indigenous defense capabilities, the Ministry of Defense has signed a contract with BEL for the procurement of 'Low-Level Transportable Radar-LLTR' (Ashwini) at a cost of Rs 2,906 crore. "
The stock of Bharat Electronics closed at around Rs 277 with a decline of 0.13 per cent in the closing session of Wednesday, march 12. During the stock market crash, the stock has fallen more than 25 percent from its high. However, brokerage houses are very positive about BEL shares.
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