Shares of Bharat Electronics Limited (BEL) fell more than 2% on 22 October even after the defence electronics manufacturer secured a Rs 770 crore contract from the Ministry of Defence. 

The deal covers advanced radar systems for the Indian Army, while the company has also received additional orders worth Rs 1,011 crore since its last disclosure on 13 October. The Rs 770 crore contract is for Improved Low-Level Lightweight Radar (LLLR-I) systems designed to detect and track fighter aircraft, mini drones and micro drones.

The upgraded radar uses gallium nitride-based active electronically scanned array technology to provide 360-degree coverage. It can track multiple aerial targets while scanning and help prioritise potential threats.

The system is designed for deployment across different terrains, including plains, deserts and high-altitude regions. It will help address gaps in low-altitude surveillance, where smaller drones can be difficult to detect using conventional long-range radars.

In a separate exchange filing, BEL said it had secured additional orders worth Rs 1,011 crore since 13 October. These include contracts for radar systems, communication equipment, sonar, jammers, upgrades, spare parts and services.

The latest wins add to the company’s defence order pipeline and reflect continued procurement by the Indian armed forces. The radar contract also supports the government’s push to strengthen domestic defence manufacturing and reduce reliance on imported systems.

Despite the fresh contracts, BEL shares remained under pressure during the morning session. The decline suggests that investors were weighing broader market sentiment and stock-specific factors rather than reacting solely to the order announcement.

At 12:36 pm, the shares of Bharat Electronics were trading 1.48% lower at Rs 365.70 on NSE.

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