BEL shares in focus today on order win from L&T; check details

Shares of Bharat Electronics Ltd (BEL) are in news today after the firm inked a contract worth Rs 847.70 crore with Larsen & Toubro (L&T) for the supply of 14 cutting-edge Communication and Electronic Warfare (EW) sensors and systems.

These state-of-the-art systems, manufactured domestically by BEL, will be installed on three Cadet Training Ships for the Indian Navy.

BEL shares ended at Rs 195.80 on BSE in the previous session. Market cap of the firm stood at Rs 1.43 lakh crore.

BEL stock has clocked multibagger returns of 182 %in two years and 322% in three years, respectively.

With the latest contract, BEL has now accumulated orders totalling  Rs 32,716.33 Cr in the current financial year, highlighting the company's continued growth and success in the defence sector, said the state run firm.

In terms of technicals, the relative strength index (RSI) of BEL stock stands at 46.7, signaling it's trading neither in the overbought nor in the oversold zone. BEL shares are trading lower than the 5 day, 10 day, 20 day but higher than the 50 day, 100 day, 150 day and 200 day moving averages. 

Bharat Electronics manufactures and supplies electronic equipment and systems to defence sector.