BEL shares: Defence stock in focus after India-France pact on HAMMER missiles
BEL share price: An MoU on Joint Venture was also signed for the manufacturing of Hammer missiles in India between by the CMD, Bharat Electronics Limited and Executive Vice President, Safran Electronics and Defence.
- Feb 18, 2026,
- Updated Feb 18, 2026 8:45 AM IST
Shares of Bharat Electronics Ltd (BEL) are in focus on Wednesday morning after India and France renewed their 10-year defence cooperation agreement and signed an MoU for manufacturing Hammer missiles.
The renewal of 10-year defence cooperation agreement was signed by the Defence Secretary from the Indian side and Deputy Director General for International Relations and Strategy from the French side, a press release suggested.
"An MoU on Joint Venture was also signed for the manufacturing of Hammer missiles in India between by the CMD, Bharat Electronics Limited and Executive Vice President, Safran Electronics and Defence," it said.
As per India – France joint statement, Prime Minister Narendra Modi and President Emmanuel Macron welcomed ongoing discussions on furthering defence cooperation in helicopter and jet engines.
"Both sides welcomed the inauguration of Maintenance, Repair and Overhaul (MRO) facility for LEAP engine, the establishment of MRO facility for M-88 engines mounted on Rafale aircrafts and the Joint Venture with Bharat Electronics Limited to produce the HAMMER Missiles in India," the statement said.
In particular, both leaders commended the contract to procure 26 Rafale-Marine fighter jets.
"They expressed their wish to further strengthen their partnership in defence aeronautics, especially in the field of manufacturing of fighter aircraft and combat aircraft engines under the Make in India initiative, and welcomed recent positive developments in this regard," the statement read.
The cooperation between the relevant entities in the Safran group and their Indian counterparts were highlighted and the ongoing partnership between Safran and HAL for the development of the Indian Multi Role Helicopter (IMRH) was appreciated.
Both leaders also jointly inaugurated the H125 Final Assembly Line, a first of its kind private sector helicopter manufacturing facility in India. Prime Minister Modi appreciated the growing interest on the French side in India’s Pinaka MBRL, as per the statement.
Both leaders highlighted the success of the made-in-India Scorpène program (P75 – Kalvari), whose 6th submarine was delivered on January 15, 2025 to the Indian Navy, and welcomed the continuation of the cooperation in Submarines.
Shares of Bharat Electronics Ltd (BEL) are in focus on Wednesday morning after India and France renewed their 10-year defence cooperation agreement and signed an MoU for manufacturing Hammer missiles.
The renewal of 10-year defence cooperation agreement was signed by the Defence Secretary from the Indian side and Deputy Director General for International Relations and Strategy from the French side, a press release suggested.
"An MoU on Joint Venture was also signed for the manufacturing of Hammer missiles in India between by the CMD, Bharat Electronics Limited and Executive Vice President, Safran Electronics and Defence," it said.
As per India – France joint statement, Prime Minister Narendra Modi and President Emmanuel Macron welcomed ongoing discussions on furthering defence cooperation in helicopter and jet engines.
"Both sides welcomed the inauguration of Maintenance, Repair and Overhaul (MRO) facility for LEAP engine, the establishment of MRO facility for M-88 engines mounted on Rafale aircrafts and the Joint Venture with Bharat Electronics Limited to produce the HAMMER Missiles in India," the statement said.
In particular, both leaders commended the contract to procure 26 Rafale-Marine fighter jets.
"They expressed their wish to further strengthen their partnership in defence aeronautics, especially in the field of manufacturing of fighter aircraft and combat aircraft engines under the Make in India initiative, and welcomed recent positive developments in this regard," the statement read.
The cooperation between the relevant entities in the Safran group and their Indian counterparts were highlighted and the ongoing partnership between Safran and HAL for the development of the Indian Multi Role Helicopter (IMRH) was appreciated.
Both leaders also jointly inaugurated the H125 Final Assembly Line, a first of its kind private sector helicopter manufacturing facility in India. Prime Minister Modi appreciated the growing interest on the French side in India’s Pinaka MBRL, as per the statement.
Both leaders highlighted the success of the made-in-India Scorpène program (P75 – Kalvari), whose 6th submarine was delivered on January 15, 2025 to the Indian Navy, and welcomed the continuation of the cooperation in Submarines.