Major Indo-French defence tie-up: BEL inks JV for Project HAMMER; read detailsMajor Indo-French defence tie-up: BEL inks JV for Project HAMMER; read details

Introduction

Leading defence manufacturer formed a 50:50 joint venture with Safran Electronics & Defence to develop HAMMER Weapon System and establish a Centre of Excellence in India.

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Share price movement of BEL

On February 16, 2026, Bharat Electronics Ltd opened at ₹434.50, down 0.21% from its previous close of ₹435.40. The stock reached a high of ₹436.95 (0.59%) and a low of ₹429.30. By 12:36 PM, it traded at ₹436.50, a 0.25% increase, with a market cap of ₹3,19,071.85 crore.

BEL Forms JV with Safran

Bharat Electronics Limited (BEL), a Navratna Defence PSU, approved a Joint Venture Agreement with Safran Electronics & Defence, France, for the HAMMER Weapon System project, subject to regulatory approvals in both countries.

The JV will establish a Centre of Excellence in India for manufacturing, supply, maintenance, and repair of the Guidance Kit for HAMMER Weapon System, primarily for Indian Air Force and Navy.

Equity will be split 50:50 between BEL and SED. The JV board will have four directors, initial capital ₹1 lakh, and operations align with Make in India defence manufacturing goals.

HAMMER is a combat-proven, modular weapon system known for high accuracy and adaptability across multiple mission profiles. Local manufacturing will enhance availability, strengthen India’s defence supply chain, and create skilled workforce opportunities.

Stock performance of BEL for period of 1 week, 6 months, and 1 year

Bharat Electronics Ltd declined 0.40% over the past week, gained 17.1% in six months, and rose 74.0% over the past one year.

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Shareholding pattern of BEL

Particulars	Dec 2025	Sep 2025	Jun 2025
Promoter	51%	51%	51%
FII	19%	18.10%	19%
DII	21%	21%	21%
Public	10%	10%	10%

About BEL

Bharat Electronics Ltd (NSE: BEL), established in 1954, manufactures and supplies electronic equipment and systems primarily for the defence sector, with a limited presence in the civilian market.

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Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.

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