This multibagger stock has direct connection with India's 'Iron Dome' plan

Shares of multibagger Bharat Electronics Ltd (BEL) are on investors' watchlist amid reports that the Navratna PSU has acquired 75 hectares of land in Chitrakoot node of the UP Industrial Defence Corridor. BEL will make radars for the Kusha Air Defence System often referred to as India's own 'Iron Dome' and an indigenous air defence system designed as an alternative to Russia's S-400 while costing less than half as much. 

DRDO will develop Project Kusha with advanced Multi-Function Control Radars from BEL and missiles from Bharat Dynamics Limited. The Kusha offers a layered interceptor shield, full operational control for the IAF, and integration with existing platforms. 

The project Kusha or India's Iron Dome will create a three-tiered, 400-km-range shield against stealth aircraft, crude missiles and drones. 

The Chitrakoot facility's production lines will also lead to production of the Quick Reaction Surface-to-Air Missile (QRSAM) system, along with maintenance, repair and operations facility.

BEL will invest approximately Rs 562.5 crore to Rs 600 crore to set up the facility. The project is expected to create over 300 direct jobs and drive economic growth in the Bundelkhand region.
Chitrakoot was selected for its strategic location and superior logistics connectivity within Central India. 

Uttar Pradesh Chief Minister Yogi Adityanath officially handed over the allotment letter of land to BEL Chairman and Managing Director Manoj Jain on April 8, 2026. 

Meanwhile, shares of BEL closed on a flat note at Rs 442.50 on Friday. Market cap of the aerospace and defence firm stood at Rs 3.23 lakh crore. The stock has rallied 343% in three years and 923% in five years, delivering multibagger returns to investors.