In a significant boost to India's defence sector, Bharat Electronics Limited (BEL) today announced a landmark contract worth ₹3,172 crore with Armoured Vehicles Nigam Limited (AVNL).
The agreement, signed at AVNL's headquarters in Chennai, entails the supply and installation of a state-of-the-art, indigenously developed Sighting and Fire Control System (FCS) to modernize the Indian Army's BMP 2/2K tanks.
This advanced FCS, a testament to India's growing prowess in defence technology, promises to significantly enhance the tanks' targeting capabilities and overall combat effectiveness.
Beyond this flagship deal, BEL has secured additional orders worth ₹481 crore since May 22, encompassing Doppler Weather Radar systems, classroom jammers, and other vital equipment. These new contracts elevate BEL's total order intake for the current financial year to an impressive ₹4,803 crore.
The positive market response to these developments was evident as BEL's shares closed 1.59% higher at ₹309.35 on the National Stock Exchange.
This latest success underscores BEL's crucial role in fortifying India's defence infrastructure and advancing its technological self-reliance. It also builds upon a November 2022 Memorandum of Understanding between BEL and AVNL, highlighting the ongoing collaboration between these two key players in the Indian defence landscape.
With its unwavering commitment to indigenous development and innovation, BEL is poised to continue its upward trajectory, playing a pivotal role in India's defence and technological future.
