PSU Defence stock bags ₹1,220 crore order from MoD, gains 3% | Stock Market News
Stock market today: Public Sector Undertaking defence stock has bagged ₹1,220 crore order from Ministry of Defence. Following the development Bharat Electronics stock was trading higher
The Ministry of Defence on 2) February 2025 has inked a contract worth ₹1220.12 Cr with Bharat Electronics Limited for procurement of 149 Software Defined Radios for Indian Coast Guard
Bharat Electronics bags ₹1220 Crore order
As per the press release The Ministry of Defence has signed a contract with M/s Bharat Electronics Limited (BEL), Bengaluru on 20th February, 2025, for procurement of 149 Software Defined Radios for Indian Coast Guard at a total cost of ₹1220.12 Cr under Buy (Indian-IDDM) category.
These state-of-the-art radios will provide secure and dependable information exchange, collaboration, and situational awareness through high-speed data and secure voice transmission.
This will make it easier for the Indian Coast Guard to carry out its primary duties, which include protecting fisheries, the marine environment, maritime law enforcement, and search and rescue missions. These radios will also improve communication for cooperative operations with the Indian Navy.
The project is a strategic step toward bolstering the Coast Guard’s operational capabilities and supporting the Government of India’s Blue Economy objectives by reinforcing maritime security., as per the release Aligning with the Atmanirbhar Bharat initiative, the contract will enhance the country’s manufacturing capabilities for advanced military-grade communication systems, generating employment opportunities and fostering expertise development.
Bharat Electronics share price movement
Following the development the Bharat Electronics Ltd share price gained more than 3%. the Bharat Electronics share price that saw intraday lows of ₹ ₹250.15 on the BSE on Thursday, however rose to intraday highs of ₹260.65.
The Bharat Electronics share price though may have corrected more than 11% year to date, however has given Multibagger returns to investors. The Bharat Electronics share price that was trading at close to ₹95 levels two years has risen more than 2.5 times. The Bharat Electronics share price is up more than 800% over last five years
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