Bharat Electronics Shares Rallied 3% during the early trading hours on 18 September after the company secured orders worth Rs 3,000 crore.
The company has received a Rs 2,118.57 crore contract from Cochin Shipyard Ltd for supplying various equipment that includes weapon equipment, sensors, fire control systems, and communication equipment for six NGMV (next generation missile vessels), class of anti-surface warfare corvettes for the Indian Navy.
The project will include participation from Indian Electronics and associated industries that includes MSMEs that are sub-vendors of BEL.
The company has received another order to upgrade AFNET SATCOM N/W and Akash missiles with an RF seeker, an inertial navigation system, and other equipment with accessories and spares also come in tow.
With the latest orders, the company’s total order book for the current fiscal year has reached Rs 14,384 crore.
In August, the company announced that it had secured defence and non-defence orders of Rs 3,283 crore since July.
At 10:30 am, the shares of Bharat Electronics were trading at Rs 139.95 or 3.13% above its previous close on NSE.