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Navratna Defence stock jumps after it receives order worth ₹634 Cr for maintenance of Akash Missile System and more

Major Navratna Defence PSU secured ₹634 crore in fresh orders, including the Akash Missile System and electronic voting machines, bringing its total order value for the year to ₹8,828 crore.
Navratna Defence stock jumps after it receives order worth ₹634 Cr for maintenance of Akash Missile System and more
Navratna Defence stock jumps after it receives order worth ₹634 Cr for maintenance of Akash Missile System and more

Introduction:

Leading Navratna Defence PSU has secured fresh orders worth ₹634 crore, including projects for the Akash Missile System and electronic voting machines. These new contracts bring the total order value for the year to ₹8,828 crore.

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Also Read: Why is Godrej Consumer share falling? Here are the key reasons

Share price movement of BEL:

On December 10, 2024, Bharat Electronics Ltd. (BEL) opened at ₹317.85, up 1.05% from its previous close of ₹314.50. The stock reached a high of ₹318.25 and a low of ₹314.25. By 09:59 AM, it traded at ₹314.75, a 0.08% increase, with a market cap of ₹2,30,075.29 crore.

BEL secures ₹634 crore orders:

Bharat Electronics Limited (BEL), a Navratna Defence PSU, has secured fresh orders worth ₹634 crore. These orders, received since November 8, 2024, include maintenance of the Akash Missile System, telescopic sights, and electronic voting machines, among others.

The new orders bring BEL’s total order value for the financial year to ₹8,828 crore. The company has received contracts for a range of products, including communication equipment, jammers, test stations, and spares, further strengthening its portfolio in defence and public sector projects.

BEL’s continued success in securing high-value orders underscores its strong position in the defence sector. The latest contracts are expected to enhance the company’s revenue and market growth, contributing to its long-term financial stability.

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

Bharat Electronics Limited (BEL) posted a 0.80% return over the past week and a 4.55% gain over six months. Its impressive 95.1% return over the past year highlights robust long-term growth and strong market performance.

Also Read: Infra stock jumps 9.4% after it receives order worth ₹1029.27 Mil from North Western Railway

Shareholding pattern of BEL:

All values in %Sep 2024Jun 2024Mar 2024
Promoter51.10%51.10%51.10%
FII17.30%17.40%17.60%
DII20.20%20.60%22.60%
Public11.40%10.80%8.70%
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About BEL:

Bharat Electronics Ltd (NSE: BEL) is a Navratna Defence PSU specializing in advanced defence electronics, communication systems, and radar technologies. It serves the Indian armed forces and other sectors, with a strong focus on innovation and manufacturing excellence.

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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