Bharat Electronics shines on inking MoU with Munitions India

Bharat Electronics is currently trading at Rs. 107.25, up by 1.30 points or 1.23% from its previous closing of Rs. 105.95 on the BSE.

The scrip opened at Rs. 106.70 and has touched a high and low of Rs. 107.70 and Rs. 106.50 respectively. So far 4152 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 115.00 on 15-Sep-2022 and a 52 week low of Rs. 61.15 on 29-Oct-2021.

Last one week high and low of the scrip stood at Rs. 107.70 and Rs. 99.90 respectively. The current market cap of the company is Rs. 77447.11 crore.

The promoters holding in the company stood at 51.14%, while Institutions and Non-Institutions held 43.76% and 5.11% respectively.

Bharat Electronics (BEL) has signed an MoU with Munitions India (MIL), a Defence PSU, to jointly address the requirements of Indian Defence and Export markets in the areas of Ammunition, Explosives and related systems.

The MoU aims at leveraging the complementary strengths and capabilities of BEL and MIL and strengthens the spirit of the Make In India initiative of Government of India, for achieving self-reliance in Defence Sector.

The co-operation will enable the companies to jointly address the domestic and Export opportunities in the areas of Ammunition, Explosives and related systems and sub systems.

BEL is a multi-product, multi-technology, multi-unit conglomerate with various 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.