Bharat Electronics shares jump 3.6% to all time high on ₹3,915 order win
₹161.80 apiece after company received new orders worth ₹3,915 crore. In an exchange filing on Wednesday, the company said that it received orders worth ₹3,915 crore, which includes a ₹580 crore order from the Indian Army for AMC of Radars, and orders worth ₹3,335 crore since its last disclosure on September 15, 2023.
With the latest order wins, Bharat Electronics Limited has accumulated orders totaling ₹18,298 crore in the ongoing financial year 2023-24. Also Read: Paytm hits 20% lower circuit on brokerage downgrades as company decides to cut down on small ticket loans Earlier in September, the company received an order of ₹2,118.57 crore from Cochin Shipyard Limited for the supply of various equipment consisting of sensors, weapon equipment, fire control systems, and communication equipment for six numbers of next generation missile vessels (NGMV), a class of anti-surface warfare corvettes for the Indian Navy.
Bharat Electronics is a Navratna PSU under the Ministry of Defence, Government of India. The company manufactures state-of-the-art electronic products and systems for the Army, Navy, and Air Force.
The company would play a significant role in successfully implementing the government’s Make in India and Atma Nirbhar Bharat initiatives, as it is a key defence and aerospace player. Further, global defence companies are tying up with indigenous players, as there is a tremendous export potential for engineering services and component sourcing from India, which bodes well for BEL, according to analysts.
Also Read: Why we are bullish on India's junior defence stocks The company shares this year so far have delivered stellar return, owing to strong financial performance and robust order wins. After hitting a one-year low
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