This PSU stock has jumped 87% in 1 year; gets boost after Rs 2168 crore deal with Indian Navy

Bharat Electronics Share Price: Bharat Electronics Limited's stock rose on BSE on Wednesday (February 14, 2024) after the PSU knitted a deal with the Indian Navy for the supply of EW suite for use on-board warship.

The stock of Bharat Electronics ended the trading session on Wednesday up by 2.95 per cent, or Rs 5.20, at Rs 181.65, a day after the company announced a deal worth nearly Rs 2168 crore. 

The stock ended its journey on Tuesday at Rs 176.45, only to open at Rs 177.50 on Wednesday. It clocked the day's high of Rs 181.15 and the low of Rs 175.25. The stock's 52-week high is Rs 196.25, while its 52-week low is Rs 89.68.

Bharat Electronics-Indian Navy deal 

In a statement on Tuesday, the company said that it had signed a contract worth Rs 2,167.47 crore plus taxes with the Indian Navy on Feb 13, 2024, for the supply of the state-of-the-art indigenously designed and developed EW suite for use on-board warship.

"This EW suite is a big leap towards the Aatmanirbhar Bharat initiative of BEL."

Bharat Electronics gets one more order

Apart from its order from the Indian Navy, the company has also received additional orders worth Rs 114.59 crore since the last disclosure on January 30, 2024.

"These orders pertain to the supply of SDRs, HD VLF receivers, EVMs, etc," the company said.

With the above, BEL has received cumulative orders of Rs 30,776.06 crore in the current financial year, the company said.

Bharat Electronics share performance

The PSU stock has gained 86.42 per cent in the last one year, while it has risen by 29.89 per cent in the last six months.

The Nifty 50 benchmark, meanwhile, has jumped 20.84 per cent in the one year and 11.48 per cent in the six months.