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08-Aug2018

Bharat Electronics zooms on entering into contracts with MDL, GRSE

Bharat Electronics is currently trading at Rs. 121.45, up by 5.00 points or 4.29% from its previous closing of Rs. 116.45 on the BSE.

The scrip opened at Rs. 117.00 and has touched a high and low of Rs. 121.75 and Rs. 115.20 respectively. So far 915214 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 192.95 on 29-Nov-2017 and a 52 week low of Rs. 96.75 on 19-Jul-2018.

Last one week high and low of the scrip stood at Rs. 121.75 and Rs. 114.10 respectively. The current market cap of the company is Rs. 29324.40 crore.

The promoters holding in the company stood at 66.01%, while Institutions and Non-Institutions held 25.01% and 8.98% respectively.

Bharat Electronics (BEL) has entered into contracts with Mazagon Dock Shipbuilders (MDL), Mumbai and Garden Reach Shipbuilders and Engineers (GRSE), Kolkata for supply and services of LRSAM systems for 7 ships being built by MDL and GRSE, for the new ship building program.

The total value of the contracts is about Rs 9,200 crore. The supplies/deliveries will be made meeting the manufacturing timeline of the new ship. This is the highest ever single value order BEL has been awarded.

BEL is a multi-product, multi-technology, multi-unit conglomerate with over 350 products in the areas of military communication, radars, naval systems, C4I systems, weapon systems, homeland security, telecom & broadcast systems, electronic warfare, tank electronics, electro-optics, professional electronic components and solar photovoltaic systems.


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