DEFENCE MINISTRY SIGNS Rs 1,476 CRORE CONTRACT WITH BEL FOR ARMY SYSTEMS

India's defence ministry has signed a defence contract with

for Rs 1,476 crore to procure 5 ground-based mobile electronic systems for the Indian Army. These new systems will modernise operational capabilities of the Indian Army units, as well as will enhance electronic warfare preparedness and improve battlefield effectiveness. The project would also support local industries involved in the defence supply chain. is a government entity that manufactures and supplies electronic equipment and systems to the defence sector. It has delivered good profit growth of 24% CAGR over last 5 years and has been maintaining a healthy dividend payout of 39%. The stock price is trading near it's all time high levels and is seeing a strong momentum. With new orders on hand, the company's profitability is set to increase in the coming quarters.