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BEL shines on bagging Rs 5,357 crore Defence Ministry contract for Akash missiles

Bharat Electronics is currently trading at Rs. 111.60, up by 2.90 points or 2.67% from its previous closing of Rs. 108.70 on the BSE.

The scrip opened at Rs. 111.00 and has touched a high and low of Rs. 113.35 and Rs. 110.60 respectively. So far 348874 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 117.45 on 27-May-2019 and a 52 week low of Rs. 72.55 on 14-Feb-2019.

Last one week high and low of the scrip stood at Rs. 113.35 and Rs. 105.50 respectively. The current market cap of the company is Rs. 26485.77 crore.

The promoters holding in the company stood at 58.83%, while Institutions and Non-Institutions held 30.76% and 10.41% respectively.

Bharat Electronics (BEL) has signed a contract with the Ministry of Defence (MoD) in New Delhi to deliver its surface-to-air Akash missile systems to seven more squadrons of the Indian Air Force at a cost of Rs 5,357 crore over the next three years. These systems will be commissioned at seven Air Force locations spread across Pan India.

BEL is a multi-product, multi-technology, multi-unit conglomerate with over 350 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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