BEL-IAI JV Gets Government Nod

30 Sep 2024 , 09:35 AM

Shares of public sector unit Bharat Electronics will be under scrutiny on Monday after the union government approved a joint venture with Israel Aerospace Industries.

According to an exchange filing, the Ministry of Corporate Affairs (MCA) has approved the establishment of BEL IAI AeroSystems, a joint venture between BEL and Israel Aerospace Industries Limited.

The joint venture would offer product support, like as repair and maintenance, for Medium Range Surface to Air Missile (MRSAM) systems deployed and used in India.

BEL shares have produced multibagger gains to investors over the last year, climbing by up to 111%. So far this year, investors have received a 57% return.

Bharat Electronics Limited (BEL) is a Navratna public sector undertaking (PSU) under the Ministry of Defence in India. It manufactures cutting-edge electronic goods and systems for the Army, Navy, and Air Force.

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