Bharat Electronics (BEL) surged 5.46% to Rs 198 after the Ministry of Defence has signed a contract worth Rs 1,075 crore with the company.
The company will supply 957 commander thermal imager cum day sights for T-90 tanks of the Indian Army.
Commander sight of Battle Tank T-90, India's premier battle tank, is presently fitted with image converter (IC) tube-based sight for night viewing. Based on the requirement projected by the Indian Army, DRDO and BEL have jointly designed and developed an advanced mid wave thermal image (MWIR) based sight as a replacement for the existing IC-based sight.
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 December 2021.
BEL's consolidated net profit soared 116.5% to Rs 584.87 crore on a 61.3% surge in net sales to Rs 3,660.84 crore in Q3 FY22 over Q3 FY21.
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