BEL locks Rs1,109 crore order from Ministry of Defence; stock jumps ~1%

30 Mar 2022 , 09:53 AM

The Ministry of Defence (MoD), Government of India, and Bharat Electronics Limited (BEL), Hyderabad, a Navratna Defence PSU, signed a Contract for Instrumented Electronic Warfare Range (IEWR) for the Indian Air Force on Tuesday, March 29, 2022. The contract is a major step towards enhancing the capabilities of IAF to prepare for future warfare.

The overall contract is estimated to be worth Rs1,109 crore.

The company further stated that it will use the IEWR to test and evaluate airborne Electronic Warfare (EW) equipment and validate their deployment in an Operational Scenario. The Project essentially highlights the spirit of Atmanirbhar Bharat and will help in achieving the journey towards self-reliance.

Bharat Electronics’ counter was trading 0.89% higher at Rs209.25 against its previous close of Rs207.40 on NSE. It touched an intraday high and low of Rs211.90 and Rs208.30 respectively.