Bharat Electronics Secures Rs 563-Crore Orders So Far In July

Bharat Electronics Ltd. has received fresh orders worth Rs 563 crore so far in July, according to an exchange filing on Thursday.

The new orders span a wide range of defence and strategic systems, further strengthening BEL's position as a key supplier to India's defence forces.

Notable contracts include systems for National Maritime Domain Awareness, Inertial Navigation Systems for artillery, communication equipment, active antenna array units, Satcom interception systems, seekers, target acquisition systems, jammers, and various spares and support services.

These orders are in addition to the Rs 585 crore worth of contracts that the Navratna defence public sector undertaking announced on June 20. These include supply of electronic voting machines, jammers, shelters, control centre, spares and services.

BEL has also drawn attention from the investment community. Global brokerage Jefferies has listed BEL as one of its top picks in the Indian defence sector, citing its strong execution track record, expanding product portfolio, and alignment with the Indian government's self-reliant India initiative.

The business update was declared after the market hours. The stock settled 0.49% lower at Rs 398.25 apiece on the NSE, compared to a 0.63% decline in the benchmark Nifty 50.

Bharat Electronics' shares have risen 32.71% in the last 12 months and 35.85% year-to-date.

Out of 28 analysts tracking the company, 24 have a 'buy' rating on the stock, one recommends 'hold' and two suggest 'sell', according to Bloomberg data. The average of 12-month analysts' price target implies a potential downside of 3.2%.

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