Shares of state-run Bharat Electronics Ltd are in news today after the firm said it has received a Rs 2,463 crore contract (excluding taxes) from the Ministry of Defence for the supply and services of Ashwini Radars to the Indian Air Force.
The stock ended 0.14% lower at Rs 276.75 on Wednesday. Market cap of the firm stood at Rs 2.02 lakh crore.
BEL stock has clocked multibagger returns of 192% in two years and 287% in three years.
"Navratna Defence Public Sector Undertaking, Bharat Electronics Limited (BEL), has signed a contract with Ministry of Defence valued at Rs.2,463 Crore (excluding taxes) for supply and services of Ashwini Radars," according to a stock exchange filing.
These fully indigenous Active Electronically Scanned Array (AESA) radars have been jointly developed by the Defence Research and Development Organisation (DRDO) and BEL. The Ashwini Radars feature integrated Identification Friend or Foe (IFF) systems with electronic scanning in azimuth and elevation, enabling 4D surveillance.
These mobile radars, equipped with advanced Electronic Counter-Countermeasures (ECCM) capabilities, can be deployed across various terrains and automatically detect and track aerial targets, including fighter jets and slow-moving objects.
With this latest contract, BEL's total order inflow for the current financial year has reached Rs 17,030 crore.