Bharat Electronics (BEL) share price is likely to break two-day losing streak on April 8 after the company received Rs 2,210 crore contract from Indian Air Force.
At 09:18am, Bharat Electronics was quoting at Rs 285.30, up Rs 12.15, or 4.45 percent, on the BSE.
".... has signed a contract with Ministry of Defence valued at Rs 2,210 crore (excluding taxes) for supply of EW Suite for Mi 17 V5 Helicopters of Indian Air Force," company said in its release.
These systems are indigenously designed and developed by CASDIC, DRDO and manufactured by the company.
The EW Suite comprises Radar Warning Receiver (RWR), Missile Approach Warning System (MAWS) and Counter Measure Dispensing System (CMDS) which significantly enhance the combat survivability of the helicopters along with effective counter measures, it added.
With this, the company has now accumulated orders totalling R .2,803 crore in the current financial year.
Catch all the market action on our live blog
On April 2, the company signed a contract with Indian Air Force valued at Rs 593.22 crores (excluding taxes) for providing maintenance services for the Akash Missile System.
In the month of March, the company secured order worth Rs 2,463 crore for Ashwini Radars from Indian Air Force and bagged additional orders worth Rs 2,805 crore.
During the Financial Year 2024-25, the company achieved a turnover of around Rs 23000 crore including export sales of around USD 106 million.
The share touched a 52-week high of Rs 340.35 and a 52-week low of Rs 221.00 on 10 July, 2024 and 13 May, 2024, respectively.
Currently, the stock is trading 16.17 percent below its 52-week high and 29.1 percent above its 52-week low.
Market capitalisation stands at Rs 208,547.99 crore.
The company share price gained more than 27 percent in last one-year.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
