Bharat Electronics Limited (BEL) shares surged 2% after the company secured a significant ₹2,463 crore contract from the Ministry of Defence. The contract involves the supply and services of Ashwini Radars to the Indian Air Force, further strengthening India’s push for self-reliance in defense technology.
The Ashwini Radars, developed jointly by the Defence Research and Development Organisation (DRDO) and BEL, feature cutting-edge Active Electronically Scanned Array (AESA) technology. These advanced systems come with integrated Identification Friend or Foe (IFF) capabilities and provide electronic scanning in both azimuth and elevation. With 4D surveillance capabilities, they can automatically detect and track aerial targets, including high-speed fighter jets and slow-moving aircraft.
This deal marks a major milestone for BEL, boosting its total order book for the financial year to an impressive ₹17,030 crore.
In the meantime, Nomura has reiterated its ‘buy’ rating on Bharat Electronics Ltd (BEL), setting a target price of ₹363, signaling a 31% upside from the current ₹276.50.
The brokerage highlighted strong order inflows in Q4FY25, with BEL securing ₹72 billion this quarter alone. This brings its FY25 total order inflows to ₹170 billion, inching closer to its ₹250 billion guidance.
Nomura also sees rising European defence spending as a long-term growth driver for BEL, thanks to its strong partnerships with leading OEMs. With the stock trading at 35x FY26 EPS and 30x FY27 EPS, BEL remains a promising pick in the defence sector.
Bharat Electronics Ltd. (BEL) shares opened at ₹283.00, touching the same high, with a low of ₹281.15. The stock remains below its 52-week high of ₹340.50 but well above its 52-week low of ₹179.10.
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