BHEL & BEL inks pact at DefExpo 2020

India’s largest power generation equipment manufacturer-Bharat Heavy Electronics Limited (BHEL) announced that they have signed a Memorandum of Understanding (MoU) with the aerospace and defence company-Bharat Electronics Limited (BEL) at Defence Expo 2020 in Lucknow today.

The company said in a BSE filing that they have entered into the pact with an aim to leverage complementary strengths and capabilities of both the companies and also to develop and market products, systems and sensors for defence as well as non-defence applications.

The MoU would further enable both the companies to explore markets for products developed by them individually or jointly, the filing further added.

At 1.40 pm on Friday, the stock of BHEL is trading at Rs 39.70, up by 0.38 per cent against its previous close of Rs 39.55.

While, the stock of BEL is trading at Rs 87.45, up by 0.69 per cent against its previous close of Rs 86.90 on BSE.