BEL down 3% despite MCA nod for incorporating JV with Israel Aerospace Ind: BEL share price
Source: Business Standard
Stock Market, BSE, NSE, Nifty, Capital(Photo: Shutterstock)
BEL Ltd share price: State-owned defence company Bharat Electronics Limited share (BEL) share price dropped up to 3.11 per cent to hit an intraday low of Rs 284.20 per share on Monday, September 30, 2024.
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BEL IAI AeroSystems Private Limited is a Joint Venture (JV) company between Bharat Electronics Limited and Israel Aerospace Industries Limited, Israel
In an exchange filing, BEL said, “This is to inform you that, the Ministry of Corporate Affairs (MCA) has approved incorporation of ” BEL IAI AeroSystems Private Limited” on 25’h September 2024 a Joint Venture Company between Bharat Electronics Limited and Israel Aerospace Industries Limited, Israel.”
BEL financial performance
BEL reported a year-on-year (Y-o-Y) rise of 47 per cent in its net profit to Rs 791 crore in the June quarter of financial year 2025 (Q1FY25), as compared to Rs 538.5 crore in the June quarter of financial year 2024 (Q1FY24).
The company’s sales jumped a little over 20 per cent annually to Rs 4,243.6 crore in the June quarter of FY25, from Rs 3,532.9 crore in the June quarter of FY24.
BEL share price history
BEL shares have more than doubled investors’ wealth in the past year. On a year-to-date (Y-T-D) basis, the BEL share has jumped about 55 per cent.
In the past month, however, the stock has corrected by 3 per cent.
The 52-week range of the share is Rs 127-340.35.
BEL background
Founded in 1954, Bharat Electronics Limited (BEL) is renowned for its expertise across various domains. It specialises in the design, development, manufacturing, supply, and life cycle support of strategic electronic products and systems.
Initially, BEL catered to the specialised electronic requirements of the Indian defence services. Today, it has evolved into a diversified entity with multiple products and technologies, serving customers domestically and internationally.
BEL’s product portfolio includes a wide range of strategic electronic products such as radar warning receivers, composite communication systems, night vision devices, versatile communication systems (VCS), IFF Interrogators, LRFs, X-Ray tubes, radar fingerprinting systems, ESM systems, V/UHF search receivers, shelters, PCB assemblies, cable harness components, and mechanical assemblies.
Through its comprehensive capabilities and commitment to innovation, BEL continues to play a crucial role in enhancing India’s defence capabilities while expanding its footprint across global markets.
The market capitalisation of BEL is Rs 2,09,936.85 crore, according to BSE.
At 12:30 PM, the BEL share was trading 2.10 per cent higher at Rs 287.20 per share. In comparison, BSE Sensex was trading 1.14 per cent lower at 84,595.65 levels.
First Published: Sep 30 2024 | 12:32 PM IST
