BEL bags ₹678 crore orders; shares rise 5%
Bharat Electronic Limited (BEL) shares rose over 5% today after the state-owned company said it received ₹678 crore orders. The order includes a contract worth ₹445 crore from the Uttar Pradesh (UP) government for the next-generation UP Dial 112 project and a contract worth ₹233 crore pertaining to Communication Display Units, Thermal Imaging cameras and other miscellaneous spares & services.
“Navratna DPSU Bharat Electronics Limited (BEL) has signed a contract for a value of ₹445 Cr with the UP Government on 23 Dec 2023 for next generation UP Dial 112 project,” it states.
As per the release, this contract is integral to the next-generation UP Dial 112 project, a state-of-the-art emergency response system that spans the entire state of UP.
According to the filing, BEL is set to offer comprehensive and state-of-the-art hardware, AI-based software tools, and Cyber Security solutions for the Dial 112 project, covering the entirety of UP state. The filing further mentioned that BEL plans to leverage the domestic supplier ecosystem, including MSMEs, for the execution of this project.
“BEL will be providing comprehensive and state-of-art hardware, AI based software tools and Cyber Security solutions for the Dial 112 project, which is spread across the entire state of Uttar Pradesh,” it adds.
Cheering the news, shares of Bharat Electronics (BEL) surged 5.5% at ₹181.80 apiece on BSE. In the past week, the share has risen 4.81%, while it gained 28.66% in a month. In the past 6 months, YTD period and 1 year, the stock has risen 53.55%, 81.35%, and 83.17% respectively.
In December alone, BEL secured orders totaling ₹12,230 crore. The company has garnered a cumulative total of orders amounting to ₹26,613 crore in the ongoing FY 2023-24.
Last Friday, BEL infomed exchanges that it secured a total orders worth ₹2,673 crore, including ₹1,701 crore from Goa Shipyard and ₹972 crore from Garden Reach Shipbuilders & Engineers. The contract covers supplying 14 types of sensors for Next Generation Offshore Patrol Vessels (NGOPV).
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