BEL shares gain on Rs 1,292-crore order win

Shares of Bharat Electronics Ltd (BEL) rose 3% in fag end of trade today after the defence PSU said it won orders worth Rs 1,292 crore including Rs 1,034 crore order for SDR and DCT from Indian Coast Guard. The Navratna firm inked a Rs 1,034 crore contract with ministry of defence for supply of software defined radios (SDR) and Data Communication Terminals (DCT) for Indian Coast Guard.  

"The state of the art radios,indigenously developed jointly by DEAL (DRDO) and BEL, support multi band, multi channel, multi role/mission operation to meet the needs of network centric warfare. The DCT system enables communication between shore and ships with required accuracy, speed, security and reliability for critical missions," said BEL. 

The PSU also won other orders worth Rs 258 crore which includes earth station for satellite communication, laser range finders, fire control centre, command and control post, communication equipment for weapon system, head up display, spares, services. 

"With these, the total accumulated orders received by BEL during the current financial year stands at Rs. 13,147 Cr,"
said BEL. 

The stock rose 3% to Rs 360.65. Market cap of the firm stood at Rs 1.90 lakh crore.

BEL stock has clocked multibagger returns of 174% in two years and 290% in three years. 

In terms of technicals, the relative strength index (RSI) of BEL stock stands at 40.5, signaling it's trading neither in the overbought nor in the oversold zone. BEL shares are trading lower than the  5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day  and 200 day moving averages. 

Bharat Electronics manufactures and supplies electronic equipment and systems to defence sector.