Shares of Bharat Electronics Ltd (BEL) surged almost 3% on 23 June after the company acquired further orders worth Rs 585 crore.  

The orders include fire control and sighting systems for missiles, communication equipment, jammers, spares, servicing, and so on.

On 6 June, the company inked a Memorandum of Understanding (MoU) with Tata Electronics to create indigenous electronics and semiconductor solutions in keeping with the Government of India’s aim of self-sufficiency.

BEL and Tata Electronics will investigate opportunities for collaboration in the areas of Semiconductor Fabrication (Fab), Outsourced Semiconductor Assembly and Test (OSAT), and design services solutions offered by Tata Electronics to meet BEL’s current and future requirements, which include Microcontrollers (MCUs), Systems-on-Chip (SoCs), Monolithic Microwave Integrated Circuits (MMICs), and other Processors.

Also received orders from MDL, Mumbai, and GRSE, Kolkata, totalling Rs 2,323 crore (excluding taxes) for the supply of base and depot parts for missile systems on Indian naval ships.  

Earlier this month, the company received further orders totalling Rs 537 crore for communication equipment, advanced composite communication systems for ships, jammers, software, simulator upgrades, spares, test rigs, and services.

At 12:20 pm, the shares of Bharat Electronics were trading 2.66% higher at Rs 419.10 on NSE.

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