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Last Updated : Feb 13, 2020 11:28 AM IST | Source: Moneycontrol.com

BHEL share price up nearly 2% on defence pact with Russian firm

The aim of the MoU is to cooperate and undertake joint projects and operations for defence systems.

 
 
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Bharat Heavy Electricals (BHEL) share price rose nearly 2 percent intraday on February 13 after the company signed an MoU with a Russian firm.

The company has signed an MoU with Joint Stock Company Rosoboronexport, Russia during the 5th India-Russia Military Industrial Conference held in Lucknow.

The aim of the MoU is to cooperate and undertake joint projects and operations for defence systems.

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This will help in leveraging BHEL's strength/capabilities in the defence sector in association with Russian OEMs under the 'Make in India' initiative and offer indigenous support and solutions to the Indian Defence Forces.

At 11:09 hrs, Bharat Heavy Electricals was quoting at Rs 37.00, up Rs 0.65, or 1.79 percent on the BSE.

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First Published on Feb 13, 2020 11:28 am
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