BEL Shares Rally 7% on Securing Rs 1,950 Crore Defence Order 

Shares of Bharat Electronics Ltd (BEL) rallied 7% on 1 April after the company secured a Rs 1,950 crore order from the Defence Ministry. 

In its regulatory filing, the company said that the Defence Ministry awarded BEL a Rs 1,950 crore contract to supply two mountain radars and accompanying infrastructure to the Indian Air Force (IAF), boosting investor confidence in the business.

“The Ministry of Defence has inked a major capital acquisition contract with Bharat Electronics Limited (BEL) for the procurement of two mountain radars, including associated equipment and required infrastructure for the Indian Air Force, at a cost of around Rs 1,950 crore,” an official statement said.

This mountain radar was designed and developed in-house by DRDO’s Electronics and Radar Development Establishment (Defence Research and Development Organisation), and will be manufactured by BEL.

At 1:25 pm, the shares of BEL were trading 5.67% higher at Rs 423.35 on NSE. 

Tired of guessing stocks to trade in daily?
Tradz by EquityPandit empowers you with powerful tools like daily stock scans for Intraday, Swing & Investing, Market Predictions and much more. Download the Tradz by EquityPandit app today and take control of your investments!

The post BEL Shares Rally 7% on Securing Rs 1,950 Crore Defence Order  appeared first on Equitypandit.