Navratna Defence PSU Bharat Electronics Limited (BEL) has received an order worth ₹695 crore from Mazagon Dock Shipbuilders Ltd for supply of spares related to the missile systems. BEL has also received additional orders worth ₹339.31 crore for defence equipment.
"The company has received additional orders worth ₹339.31 crore since the last disclosure on 26th Dec 2023 and these orders pertain to Combat Management System, Composite Communication System, Transmit / Receive Modules, Mobile Autonomous Stabilization System and other spares / services," said BEL in a filing to the exchanges.
With the above orders, BEL has received cumulative orders of ₹27,647.31 crore in the current financial year.
Analysts at global brokerage CLSA maintains a 'buy' call on BEL and raised its target price to ₹207 per share from ₹157 a share earlier. The foreign brokerage said the company is set to beat its FY24 order inflow guidance of ₹20,000 crore with orders of ₹25,900 crore, and on the back of the Centre brining forward Make In India orders.
BEL shares were trading at ₹185.80, down 0.54% on the NSE during Wednesday's late afternoon deals.
First Published: Jan 17, 2024 3:28 PM IST
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