Bharat Electronics Ltd (BEL) has grabbed the spotlight today following the announcement of a significant contract agreement with the Indian Navy. The company has inked a contract valued at Rs 2,167.47 crore plus taxes for the supply of a cutting-edge, indigenously designed and developed Electronic Warfare (EW) suite intended for use on-board warships.
As of 10:58 AM, BEL shares were trading 2.10% higher at ₹180.30, reflecting positive market sentiment towards the contract deal.
In a regulatory filing, BEL stated, “Navaratna DPSU Bharat Electronics Limited (BEL) has signed a contract for a value of Rs 2,167.47 crore plus taxes with the Indian Navy on 13th Feb 2024 for the supply of state-of-the-art, indigenously designed and developed EW suite for use onboard warships.”
Additionally, the company disclosed that it has secured additional orders worth Rs 114.59 crore since the last update on January 30, 2024, for the supply of Software Defined Radios (SDRs), High Definition Very Low-Frequency (HD VLF) receivers, Electronic Voting Machines (EVMs), among others.
