Bharat Electronics share price: BEL stock in focus as PSU inks Rs 3,700-crore defence ministry contracts
Bharat Electronics Ltd (BEL) share price: The stock of the PSU defence electronics maker will be in focus on Friday as the company has signed a mega deal with the defence ministry to supply radars and receivers for the Indian Air Force (IAF).
Bharat Electronics Ltd (BEL) share price is in focus on Friday as the defence ministry inked two contracts worth over Rs 3,700 crore with the public sector undertaking (PSU) for radars and receivers that will enhance the operational capabilities of the Indian Air Force.
The first contract worth over Rs 2,800 crore pertains to the supply of Medium Power Radars (MPR) 'Arudhra', and the second, at an overall cost of around Rs 950 crore, relates to 129 DR-118 Radar Warning Receivers (RWR). Both projects are under 'Buy Indian IDMM (Indigenously Designed Developed and Manufactured)' category. The projects are aimed at enhancing the surveillance, detection, tracking, and electronic warfare capabilities of the air force.
"These essentially embody the spirit of 'Aatmanirbhar Bharat' and will help facilitate the realisation of the country's journey to achieve self-reliance in defence manufacturing," the Indian Air Force (IAF) said in a statement.
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MPR (Arudhra) radar has been indigenously designed and developed by the Defence Research and Development Organisation (DRDO) and will be manufactured by BEL. Its successful trials have already been conducted by the IAF. It is a 4D multi-function phased array radar with electronic steering in both azimuth and elevation for surveillance, detection, and tracking of aerial targets. The system will have target identification based on interrogations from co-located identification friend or foe system.
The DR-118 RWR will considerably enhance the electronic warfare capabilities of the Su-30 MKI aircraft. The majority of sub-assemblies and parts will be sourced from indigenous manufacturers, the statement said. The IAF said the project will boost and encourage active participation of Indian electronics and associated industries, including MSMEs. It is also expected to generate employment of approximately two lakh man-days over a period of three and half years, it said.
BEL stock price and dividend
Bharat Electronics Ltd share price settled at Rs 92.05, more than half per cent lower on Thursday. In the last one year, BEL stock has surged more than 33 per cent.
Last Friday, BEL announced a dividend of Rs 0.60 per share — its second interim dividend for the year ending March 2023. The latest payout from Bharat Electronics — a PSU manufacturer of electronics for the aerospace and defence sectors — is at a face value of Re 1, translating to a 60 per cent dividend. The company's board had earlier set March 25 as the record date for any such dividend.
BEL quarterly results
BEL posted a profit after tax of Rs Rs 1,641.31 crore in the October-December quarter in FY23, posting year-on-year growth of almost 36 per cent.
-With inputs from PTI
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