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Recent order wins set the stage for BEL to beat FY24 order target
Mint Mumbai
|December 12, 2023
Steady execution and healthy order pipeline have also helped the stock climb higher
Bharat Electronics Ltd’s (BEL) shares have been scaling new highs lately. On Monday, the state-owned aerospace and defence electronics company’s shares registered a new 52-week high to ₹163.25 apiece. The positive momentum is primarily followed by the announcement of significant order wins totalling ₹3,915 crore last week, including a ₹580 crore order from the Indian Army for artificial magnetic conductors (AMC) of radars. BEL secured an additional order worth ₹3,335 crore, which includes various defence systems, such as artificial magnetic conductors for airborne, early-warning and control systems, and uncooled thermal imaging sights. With this, BEL’s order inflow stands at ₹18,298 crore so far in FY24.
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