In a continued bullish trend, shares of Bharat Heavy Electricals Limited (BHEL) experienced a robust gain of over 4.5 percent, reaching Rs 163, marking the fifth consecutive trading session’s rally. This surge comes on the heels of a significant development— the Defense Ministry’s recent contract signing with BHEL for the procurement of 16 upgraded super rapid gun mounts (SRGM) along with associated accessories for the Indian Navy.
According to the ministry’s statement, these advanced SRGMs will find placement on both existing and newly constructed vessels in the Indian Navy’s fleet. The contract, finalized on November 28, underscores the collaborative effort between the Defense Ministry and BHEL in enhancing the naval capabilities of the country.
As of 11:25, the bullish momentum continued, with BHEL shares trading at an impressive 4.55% higher, reaching ₹163.15, further reflecting the positive investor sentiment following the Defense Ministry’s strategic procurement deal with BHEL.