Shares of Bharat Electronics Ltd (BEL) surged 3% on 13 March after the company announced securing an order from the Indian Air Force worth Rs 2,463 crore. 

In its regulatory filing, the company said, “Bharat Electronics has signed a contract with the Ministry of Defence valued at Rs 2,463 crore (excluding taxes) for supply and services of Ashwini Radars.”

These fully indigenous AESA radars, developed in partnership with DRDO and BEL, have integrated IFF with electronic scanning in azimuth and elevation and are capable of 4D surveillance.

These mobile radars with advanced ECCM capabilities may be placed on any terrain and can automatically identify and follow aerial targets, including fighter planes and slow-moving objects, the statement said.

Accordingly, the company has now received orders worth Rs 17,030 crore for the current fiscal year.

On 10 March, the company got more contracts worth Rs 843 crore. These orders comprised, among other things, upgrades for radar, air traffic control and maritime systems, radio frequency searchers, electro-optic repair facilities, spare parts, and services.

Earlier, on 5 March, the board of directors declared the company’s interim dividend for the fiscal year 2024–2025, which is Rs 1.50 per equity share of Re 1 each (150%).

On 6 March, the company made new orders totalling Rs 577 crore for a range of products, such as sophisticated composite communication systems for submarines, airborne electronic warfare equipment, train communication systems, Doppler weather radar, radar upgrades, spare parts, and services.

At 12:23 pm, the shares of Bharat Electronics Ltd were trading 2.30% higher at Rs 283.20 on NSE.

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