BEL, Bharat Forge Share Price Rises As DRDO Transfers Defence Technologies To Industry Partners
At a ceremony held at the Vehicles Research and Development Establishment in Ahilyanagar, Maharashtra, key licensing agreements were officially handed over to prominent defence industry players.
Share price of defence players Bharat Electronics Ltd., Bharat Forge Ltd. and BEML Ltd. are in focus after the Defence Research and Development Organisation transferred technologies of nine advanced defence systems to ten public and private sector partners.
BEL and Bharat Forge's share price climbed at market open, while BEML saw trade begin in the red.
At a ceremony held on Saturday at the Vehicles Research and Development Establishment in Ahilyanagar, Maharashtra, key licensing agreements were officially handed over to prominent defence industry players.
The CBRN Recce Vehicle (Tracked) Mk-II was transferred to Bharat Electronics Ltd., while the Mounted Gun System was licensed to Bharat Forge Ltd. Additionally, the Anti-Terrorist Vehicle (Tracked Version) was handed over to Metaltech Motor Bodies Private Ltd.
The full trailer for the 70-tonne tank transporter, designed to carry the Arjun Mk-1A main battle tank, was transferred to four industry partners, including BEML Ltd.
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Defence Players Share Price Today
Shares of BEL rose as much as 0.86% to Rs 394.05 at market open, while Bharat Forge's share price rose 1.10% to Rs 1310.60 per share.
BEML's share price, however, bucked the trend at Rs 4358, declining 0.88%.
Twenty-four out of 28 analysts tracking Bharat Electronics have a 'buy' call on the stock, while one suggests selling and three recommend selling. Analysts tracking Bharat Forge have a mixed outlook, with 13 suggesting buy, while 16 have a 'hold' or 'sell' call.
Three analysts have a 'buy' call on BEML, and one suggests holding on to the stock.
The technology transfer event was attended by Dr Samir V Kamat, Secretary of the Department of Defence Research and Development and Chairman of DRDO.
In alignment with the government's vision to strengthen India's defence industrial ecosystem through active public-private collaboration, VRDE has facilitated the transfer of key indigenous technologies.
