Bharat Electronics Limited (BEL) Shares surged 2.5% on February 14 after the Navratna Defence Public Sector Undertaking (PSU) announced signing contracts for orders worth Rs 2,282.06 crore. 

According to the company’s exchange filing, BEL signed a Rs 2,167.47 crore contract, exclusive of taxes, with the Indian Navy on February 13 for the supply of state of the art indigenously designed and developed Electronic Warfare (EW) suite for use on-board warship.

Further, BEL said in its exchange filing that it has also received additional orders worth Rs 114.59 crore for the supply of Software-Defined Radios (SDRs), High Definition Very Low Frequency (HD VLF) receivers, Earned Value Management (EVM), etc, in February.

Earlier this month, the Indian Air Force signed a contract with BEL to procure LightWeight Man Portable modern communication sets. With these new orders, the company has a cumulative order book of Rs 30,776.06 crore in the current financial year. 

At 1:50 pm, BEL’s shares were trading 1.63% higher at Rs 179.60 on the National Stock Exchange (NSE).