Shares of Bharat Electronics (BEL) were seesawing in early trade on Tuesday after the defence firm inked a deal with the Indian Space Research Organisation (ISRO).

What Happened: The defence public sector firm announced on September 30 that it had signed a memorandum of understanding with the Space Applications Centre (SAC), ISRO to collaborate on indigenising and developing infrastructure for manufacturing space-grade travelling wave tube amplifiers (TWTAs) in India.

The deal, signed at SAC Ahmedabad, is expected to boost indigenisation efforts in defence and space production, helping the country save foreign exchange, according to BEL.

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BEL said the TWTA technology involves the controlled interaction of microwaves with an electron beam under ultra-high vacuum conditions, describing it as a complex, multi-disciplinary field. The company also said it has already established a state-of-the-art fabrication and manufacturing facility for TWTAs.

TWTAs developed by SAC, ISRO and manufactured by BEL will be employed in satellite communication and navigation payloads, microwave remote sensing radar payloads, scientific missions and inter-spacecraft communications links. BEL noted that these components are crucial for various communication and microwave remote-sensing payloads.

Price Action: BEL’s share price was swinging between positive and negative territory on Tuesday, inching 0.05% lower to ₹284.95 after rising around 0.2% near the start of trade. The stock ended its first session after entering the Nifty 50 down around 3% amid broad-based profit booking.

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