BEL Secures Orders Worth Rs 2,673 Crore from Goa Shipyard and Garden Reach Shipbuilders

22 Dec 2023 , 03:14 PM

BEL shares saw a 1 % intraday gain on December 22 following the company’s procurement of orders worth Rs 2,673 crore from Goa Shipyard and Garden Reach Shipbuilders & Engineers.

The order value from Goa Shipyard stands at Rs 1,701 crore, while that from Garden Reach Shipbuilders & Engineers is Rs 972 crore.

At the time of writing, BEL stock was trading at Rs 174.95 per share, reflecting a 2.55 % increase on the NSE.

The orders entail the supply of 14 types of sensors designated for use on Next Generation Offshore Patrol Vessels (NGOPV).

This order is expected to involve the participation of electronics and associated industries, including MSMEs, acting as sub-vendors for BEL. The equipment manufactured by BEL aligns with the ‘Atmanirbhar Bharat’ program.

Additionally, BEL received extra orders valued at Rs 86.15 crore since the last disclosure on December 15, covering miscellaneous spares and services.

With these recent developments, BEL has accumulated orders totaling Rs 25,935.15 crore in the current financial year.

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