Bharat Electronics Limited (BEL) announced on September 15 that it has received orders worth Rs 3,000 crore, including an order worth Rs 2,118.57 crore from Cochin Shipyard.
BEL will supply next-generation missile vessels equipped with state-of-the-art technology worth Rs 2,118.57 crore to the Indian Navy.
"Received an order of Rs 2,118.57 Crore from Cochin Shipyard Limited for the supply of various equipment consisting of sensors, weapon equipment, fire control systems, and communication equipment for six Next Generation Missile Vessels (NGMV), a class of anti-surface warfare corvettes for the Indian Navy," the aerospace and defence electronics manufacturer said in a release.
The project will involve the active engagement of Indian electronics and related sectors, including micro, small, and medium enterprises (MSMEs), serving as sub-vendors for BEL. The equipment produced by BEL contributes to the 'Aatmanirbhar Bharat' initiative, the company said.
Further, the public sector defence manufacturing company said apart from the order from Cochin Shipyard, it has also received orders worth Rs 886 crore pertaining to the upgrade of AFNET SATCOM N/W, upgrade of Akash Missiles with RF Seeker, Inertial Navigation System, and other equipment with accessories and spares, etc.
In the fiscal year 2023-24, BEL has accumulated orders totaling Rs 14,384 crore, including this one, it stated.
In the trading session on September 15, BEL's scrip settled at Rs 135.70 on the BSE, which was 0.77 percent lower than the previous day's close.
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