Bharat Electronics shares hit 52-week high on order win worth Rs 580 crore

Cumulatively, companyreceived orders worth Rs 18,298 crore in the current financial year 2023-24

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Bharat Electronics share price rose 2 percent to touch 52-week high of Rs 163 in the early trade on December 7 after the company received an order of Rs 580 crore from Indian Army for AMC of Radars.

At 09:30 am, Bharat Electronics was quoting at Rs 159.50, up Rs 3.30, or 2.11 percent on the BSE.

This project will have participation of Indian electronics and associated industries, including MSMEs, which are sub-vendors of Bharat Electronics.

The company has also received additional orders worth Rs 3,335 crore since September 15, 2023 and the said orders pertain to AMC for AEW&C system (Airborne Early Warning & control), Uncooled TI sights, Software Defined Radios, SWIR pay load, AMC for IACCS, Passive Night Vision Binoculars etc, said Bharat Electronics.

With the above, cumulatively received orders worth Rs 18,298 crore in the current financial year 2023-24, it added.

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The company had posted 26.5 percent jump in its September quarter net profit at Rs 789.35 crore.

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