Monday , November 18 2019
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Bharat Electronics gains on inking MoU with Tamil Nadu Industrial Explosives

Bharat Electronics is currently trading at Rs. 112.40, up by 0.45 points or 0.40% from its previous closing of Rs. 111.95 on the BSE.

The scrip opened at Rs. 112.90 and has touched a high and low of Rs. 112.90 and Rs. 111.70 respectively. So far 39717 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. 112.90 and Rs. 104.00 respectively. The current market cap of the company is Rs. 27326.39 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 inked a memorandum of understanding (MoU) with Tamil Nadu Industrial Explosives (TEL), a Tamil Nadu government undertaking, for co-operation in the explosives segment.

The company is investing for the upgradation of existing facilities and the addition of new facilities. They also aim to set up a Centre of Excellence for ammunition related technologies for both defence and aerospace requirements.

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.