Bharat Electronics gains after signing MoU

Bharat Electronics rose 1.18% to Rs 102.25 at 10:23 IST on BSE after the company signed a MoU with Saab, Sweden, for jointly marketing the L-Band 3D Air Surveillance Radar.

The announcement was made after market hours yesterday, 16 July 2018.

Meanwhile, the S&P BSE Sensex was up 68.54 points or 0.19% at 36,392.31

On the BSE, 1.55 lakh shares were traded on the counter so far as against the average daily volumes of 7.14 lakh shares in the past two weeks. The stock had hit a high of Rs 103.35 and a low of Rs 101.40 so far during the day. The stock had hit a record high of Rs 192.95 on 29 November 2017. The stock had hit a 52-week low of Rs 100.55 on 16 July 2018.

Bharat Electronics (BEL) has signed a Memorandum of Understanding (MoU) with Saab, Sweden, recently for jointly marketing the L-B and 3D Air Surveillance Radar, RAWL-03, co-developed by BEL and Saab. Saab serves the global market with world-leading products, services and solutions in military defence and civil security.

BEL has joined hands with Saab, Sweden and USA, to market the Long Range Air Surveillance Radar, a cost-effective L Band three dimensional (3D) radar, for early detection and tracking of air and surface targets, thereby enabling engagement of fire control systems to neutralise the same. RAWL-03 will be offered in both ship-borne and land-based configurations. The system is based on the state-of-the-art GaN TR Module technology and incorporates the latest Signal Processing techniques.

Bharat Electronics' net profit fell 29.43% to Rs 558.74 crore on 10.84% fall in total income to Rs 3636.36 crore in Q4 March 2018 over Q4 March 2017.

Bharat Electronics is India's leading defence electronics company engaged in the design, manufacture and supply of state-of-the-art Radars like Weapon Locating Radar and Battle Field Surveillance Radar, Communication Systems, C4I systems, Naval Systems, Electronic Warfare Systems, Missile Systems, Night Vision Devices and other Electro Optic Systems, Tank Electronics and Gun/Weapon System Upgrades, Coastal Surveillance System, etc, for the armed forces.

The Government of India held 66.01% stake in Bharat Electronics (as per the shareholding pattern as on 30 June 2018).

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