BEL shares in focus: Defence PSU signs JV with France’s Safran for HAMMER weapons
On Monday, BEL stock closed 2.98 per cent lower at Rs 403.80 on the BSE, slipping from its previous close of Rs 416.20. The Navratna PSU maintains a market cap of Rs 2.95 lakh crore.
- Nov 25, 2025,
- Updated Nov 25, 2025 8:52 AM IST
Shares of Bharat Electronics Ltd are in focus on Tuesday after the state-owned defence major announced a significant strategic partnership with France’s Safran Electronics & Defence to manufacture advanced weaponry on Indian soil.
The development comes as a potential sentiment booster following a corrective session on Dalal Street. On Monday, BEL stock closed 2.98 per cent lower at Rs 403.80 on the BSE, slipping from its previous close of Rs 416.20. The Navratna PSU maintains a market cap of Rs 2.95 lakh crore.
In a press release post-market hours on November 24, the company confirmed the signing of a Joint Venture Cooperation Agreement (JVCA) with Safran Electronics & Defence (SED). The pact paves the way for the production of the HAMMER (Highly Agile Modular Munition Extended Range) Smart Precision Guided Air-to-Ground Weapon within India.
The agreement was signed in New Delhi by BEL CMD Manoj Jain and Alexandre Ziegler, Executive Vice President of SED.
The partnership structure is designed to be equitable and deeply integrated. According to the release, the proposed Joint Venture Company (JVC) will be incorporated as a private limited company with a "50:50 shareholding" split between the Indian and French entities.
The roadmap targets an indigenisation level of up to 60 percent, involving the local manufacturing of critical sub-assemblies, electronics, and mechanical parts.
"The transfer of production will happen in a phased manner with BEL leading final assembly, testing and quality assurance," the release stated, highlighting the operational division of labour.
The HAMMER system is viewed as a force multiplier for the Indian armed forces. Described as a "combat-proven, precision-guided weapon system," its modular design allows it to be deployed across various platforms. Most notably, the weapon is adaptable for the Rafale fighter jets and India’s indigenous Light Combat Aircraft (LCA) Tejas.
The venture aims to address the specific operational requirements of both the Indian Air Force and the Indian Navy, reducing import dependency for high-precision munitions.
The execution of this agreement marks the fruition of talks initiated earlier this year. "The agreement formalises the intent expressed in the MoU signed between BEL and SED on February 11, 2025 during Aero India," the release added.
Shares of Bharat Electronics Ltd are in focus on Tuesday after the state-owned defence major announced a significant strategic partnership with France’s Safran Electronics & Defence to manufacture advanced weaponry on Indian soil.
The development comes as a potential sentiment booster following a corrective session on Dalal Street. On Monday, BEL stock closed 2.98 per cent lower at Rs 403.80 on the BSE, slipping from its previous close of Rs 416.20. The Navratna PSU maintains a market cap of Rs 2.95 lakh crore.
In a press release post-market hours on November 24, the company confirmed the signing of a Joint Venture Cooperation Agreement (JVCA) with Safran Electronics & Defence (SED). The pact paves the way for the production of the HAMMER (Highly Agile Modular Munition Extended Range) Smart Precision Guided Air-to-Ground Weapon within India.
The agreement was signed in New Delhi by BEL CMD Manoj Jain and Alexandre Ziegler, Executive Vice President of SED.
The partnership structure is designed to be equitable and deeply integrated. According to the release, the proposed Joint Venture Company (JVC) will be incorporated as a private limited company with a "50:50 shareholding" split between the Indian and French entities.
The roadmap targets an indigenisation level of up to 60 percent, involving the local manufacturing of critical sub-assemblies, electronics, and mechanical parts.
"The transfer of production will happen in a phased manner with BEL leading final assembly, testing and quality assurance," the release stated, highlighting the operational division of labour.
The HAMMER system is viewed as a force multiplier for the Indian armed forces. Described as a "combat-proven, precision-guided weapon system," its modular design allows it to be deployed across various platforms. Most notably, the weapon is adaptable for the Rafale fighter jets and India’s indigenous Light Combat Aircraft (LCA) Tejas.
The venture aims to address the specific operational requirements of both the Indian Air Force and the Indian Navy, reducing import dependency for high-precision munitions.
The execution of this agreement marks the fruition of talks initiated earlier this year. "The agreement formalises the intent expressed in the MoU signed between BEL and SED on February 11, 2025 during Aero India," the release added.