Bharat Electronics shares gained more than 2% on Friday after the company bagged orders worth ₹2,759.15 crore.
The defence and aerospace company received orders worth ₹2,673 crore from Goa Shipyard and Garden Reach Shipbuilders Ltd and Engineers Ltd. This comprises ₹1,701 crore order from Goa Shipyard and ₹972 crore order from Garden Reach Shipbuilders and Engineers for supply of 14 types of sensors for Next Generation Offshore Patrol Vessels (NGOPV), the company said in a stock exchange filing.
The company has also received additional orders worth ₹86.15 crore.
The orders will be fulfilled with the participation of electronics and associated industries, which are sub vendors of BEL, the company informed the bourses.
With the latest orders, BEL has bagged cumulative orders worth ₹ 25,935.15 crore so far in the current financial year.
On Thursday, Bhanu Prakash Srivastava, the Chairman and Managing Director of BEL, predicted the company’s total order inflow in the current financial year to cross ₹25,000-crore mark.
Srivastava said that the defence PSU’s order for Early Warning (EW) system for ships, which is around ₹2,000 crore, is expected to fructify this financial year.
Last week, the Bengaluru-based company also signed a mega contract with the Ministry of Defence for the procurement of electronic fuses for the Indian Army. The Ministry of Defence signed a 10-year contract with BEL, Pune, for procurement of electronic fuses for the Indian Army, at a total cost of ₹5,336.25 crore.
As part of the ‘Aatmanirbhar Bharat’ vision, this contract has been signed for ammunition procurement under ‘Manufacture of Ammunition for Indian Army by Indian Industry’, read an official press release.
Shares of Bharat Electronics Ltd were trading 1.61% higher at ₹173.35 apiece on BSE at 1:24PM.
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