Bharat Electronics gains over 2% on bagging order worth ₹3,172 crore from AVNL

The state-owned defence sector company, in a stock exchange filing, said that it received an order worth ₹3,172 crore from AVNL for the supply and installation of an advanced Sighting and Fire Control System (FCS). The system will be used for upgrading the BMP 2/2K tanks of the Indian Army, the company informed the bourses on June 28.

The advanced electronic products manufacturer for the defence sector said that the system will be indigenously designed and developed. Along with the sighting system, Bharat Electronics will also provide a comprehensive engineering support package to AVNL.

Earlier, on May 22, the defence supplier informed the bourses that it had secured orders worth ₹481 crore. These orders included contracts for Doppler Weather Radar, Classroom jammers, spares and services and more.

The Navratna public sector undertaking (PSU) of the Defence Ministry has received cumulative orders totalling ₹4,803 crore in the current financial year, as of June 28, according to the official release.

Bharat Electronics is a leading manufacturer and supplier of state-of-the-art advanced electronic products and systems for the Indian Army, Navy and the Air Force. The company also supplies its products to armed forces abroad.

Shares of BEL were trading nearly flat at ₹306.25 apiece, up 0.11%, on the NSE at 2:32 pm.