Bharat Electronics has appointed Manoj Jain as its chairman and managing director, effective June 20, 2024. Jain, previously director of R&D, has held various roles at BEL.
Defence corporations’ shares fell 11% on BSE due to expected lower Lok Sabha election results, despite multibagger returns from these stocks over the past year.
Bharat Electronics Ltd (BEL), a state-run defence electronics company, experienced a 9.35% increase in shares on Tuesday, May 21, following earnings reports.
Leading firms IRFC, Bharat Electronics, ONGC, and Whirlpool India will reveal Q3 FY24 results on May 20, despite the closure of the NSE and BSE due to Lok Sabha elections.
BEL, a PSU defense stock, is set to announce a BEL dividend for 2024, aiming to repay investors.
Defence stock orders secured by the government totaling Rs. 847 crores saw a 98 percent return on investors’ shares in just one year.
The company in a BSE filing said this will have the participation of electronics and associated industries including MSMEs, which are sub-vendors of BEL.
In order to increase indigenisation and value addition, BEL, a technology-oriented company, has been investing approximately six to seven per cent of its turnover in research and development.
