Stock under Rs 100: This aerospace & defense company bags a new export order worth USD 52 million!

The stock has gained over 30 per cent in the last one year.

On March 31, 2023, Bharat Electronics Limited informed in the exchange filing that the company has received Export Orders worth 52 million USD (approx.) in the month of March 2023. This includes Communication Equipment, Electronic Assemblies, Micro Modules and Mechanical parts for various customers from France, Israel, USA etc.  

Earlier the company informed that the Ministry of Defence (MoD) had signed two contracts worth Rs 2,696 crore with Bharat Electronics Limited, Bangalore to bolster the defence capabilities of the country. These projects will showcase indigenous design and manufacturing capabilities of the Indian Defence industry led by BEL, involving other Public Sectors, Private Sectors and MSMEs. These projects will add another milestone to the ‘Atmanirbhar Bharat Abhiyaan’ and ‘Make in India’ initiative of the Government of India.   

BEL was established in 1954 in association with CSF, France (now, Thales), to meet the specialized electronic equipment requirements of the Indian Defence Services. BEL is an Indian state-owned aerospace and defence company with about nine factories and several regional offices in India.  

On Friday, the stock opened at Rs 94.80 and made a high and low of Rs 98.35 and Rs 94.75 respectively. The stock closed at Rs 97.55, up by 6.62 per cent. The stock has a 52-week high of Rs 115.00 and a 52-week low of 68.88.