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BEL gains after signing MoU with AAI

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Bharat Electronics rose 2.3% to Rs 99.35 after the company said it collaborated with the Airports Authority of India for tapping emerging global opportunities in the airport business.

The Airports Authority of India (AAI) has entered into a Memorandum of Understanding (MoU) with Defence PSU Bharat Electronics (BEL), to collaborate in tapping emerging global opportunities in the airport business, including those in the Asia-Pacific region.

AAl, playing the role of a development partner, will assist BEL in its domain of expertise to enable execution of the prestigious MEA projects outside India by BEL. Both the organisations will work in close co-operation with each other in the field of civil aviation, in both present and future projects handled by BEL.

BEL is a state-owned aerospace and defense company with about nine factories, and several regional offices in India. It primarily manufactures advanced electronic products for the Indian Armed Forces. The Government of India held 51.14% stake in BEL as on 31 March 2020.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, July 15 2020. 09:51 IST
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