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Bharat Electronics rises after receiving export orders

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Bharat Electronics rose 1.65% to Rs 80 at 13:45 IST on BSE after the company said it received export orders worth $33 million.

The announcement was made after market hours on Friday, 22 February 2019.

Meanwhile, the S&P BSE Sensex was up 176.51 points, or 0.49% to 36,047.99.

On the BSE, 5.66 lakh shares were traded in the counter so far compared with average daily volumes of 5.01 lakh shares in the past two weeks. The stock had hit a high of Rs 80.30 and a low of Rs 77.30 so far during the day. The stock hit a 52-week high of Rs 157.95 on 6 March 2018. The stock hit a 52-week low of Rs 72.55 on 14 February 2019.

Navratna Defence PSU Bharat Electronics (BEL) received export orders valued about $33 million from Elbit Systems ElectroOptics Elop (ELOP), a subsidiary of Elbit Systems, Israel, on 21 February 2019, at Aero India 2019, Bengaluru, for the manufacture and supply of EOIR payloads (CoMPASS Rev III, Trade Mark of ELOP) and another variant of EOIR payload (CoMPASS III, Trade Mark of ELOP) for Airborne applications.

Net profit of Bharat Electronics rose 67.62% to Rs 507.63 crore on 8.32% rise in net sales to Rs 2656.38 crore in Q3 December 2018 over Q3 December 2017.

Bharat Electronics produces a wide range of state-of-the-art equipment in fields such as defence communication, radars, naval systems, c4i systems, weapon systems, homeland security, telecom & broadcast systems, electronic warfare, tank electronics, electro optics, professional electronic components and solar photovoltaic systems.

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

First Published: Mon, February 25 2019. 13:41 IST