BEL Partners with Reliasat to Explore Space Sector Opportunities

23 Sep 2024 , 02:53 PM

Bharat Electronics Limited (BEL), a Navaratna defence PSU, has signed a teaming agreement with Canada-based Reliasat Inc to collaborate in the space sector.

This agreement aligns with the Government of India’s Atmanirbhar Bharat and Make-in-India initiatives, marking BEL’s entry into space products.

The partnership was formalized by K.V. Suresh Kumar, Director (Marketing) of BEL, and Gurvinder Chohan, CEO of Reliasat Inc, at BEL’s corporate office in Bengaluru.

The collaboration aims to leverage the strengths of both companies to develop advanced space products and establish a significant presence in the space domain.

At the time of writing on September 23, 2024, at 2:41 pm, Bharat Electronics Limited (BEL) stock is trading at ₹286, reflecting a 3.12% gain from the previous closing price. Over the past year, Bharat Electronics Limited (BEL) stock has witnessed a 109% gain, and it has gained 54% since the beginning of the current year.

Reliasat specializes in next-generation telecommunications satellites, focusing on delivering cost-effective satellite solutions. The company’s advanced satellites are equipped with AI and ML capabilities, enabling high-capacity internet connectivity from space.

BEL is an Indian public sector aerospace and defence electronics company, manufacturing advanced electronic products for ground and aerospace applications. As one of sixteen PSUs under the Ministry of Defence of India, BEL has been granted Navratna status, underscoring its significance in the industry.