Navratna defence public sector firm Bharat Electronics Limited (BEL) has announced securing orders worth ₹695 crore.

What Happened: The major orders comprise of combat management system, communication equipment, stabilized optronic pedestal, upgrades, spares, services and more, the company said in a press filing on Thursday. With this, the total orders accumulated by BEL in the current financial year have reached ₹5,920 crore.

In July, the company received export orders worth Euro 25.75 million, estimated to be around ₹230 crore. The orders were received from Thales Reliance Defence Systems (TRDS) for the production and supply of Transmit Receive (TR) modules. These modules are expected to be used in the radars of fighter aircraft.

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The company’s order book as of July 1, stood at ₹76,705 crore. Last month, BEL reported a consolidated net profit of ₹791 crore in the April to June quarter, up 47% from the ₹538 crore posted in the same quarter last year. 

BEL is also expected to enter the Nifty 50 in the September rejig, replacing Divi’s Laboratories and LTI Mindtree. The Nifty rejig aims to reward outperforming stocks.

Price Action: BEL shares settled 0.39% lower at ₹304.20 on Thursday.

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