BEL enters into Offset Contract with JSC Rosoboronexport

At the 6fh India-Russia Military Industrial Conference, held today in Bengaluru, Navratna Defence PSU Bharat Electronics Limited (BEL) entered into an Offset Contract under invest in kind with Joint Stock Company Rosoboronexport, Russia, for setting up industrial facilities for the manufacture of a wide range of aviation hoses at BEL Optronic Devices Limited, Pune, a subsidiary of BEL.

Mr Suresh Kumar K V, General Manager, Technology Planning, BEL, exchanged the contract documents with Mr Vadim Belyaev, Deputy Head, Offset Division, JSC Rosoboron, in the presence of Mr M V Gowtama, CMD, BEL, and Mrs Irina Ryazantseva, Coordinator, Offset Programmes.

Setting up of industrial facilities under the contract for manufacture of aviation hoses is fully consistent with the Government of India's XMake in India' programme. As a result of the implementation of the Offset project, BEL will obtain a cost-effective, state-of-the-art technology based on modern production and testing machinery and proven technological processes manufacturing high-quality aviation hoses certified for international standards for all types of aircraft operating in India. The active operation of numerous aircraft of the Indian Air Force creates constant demand for aviation hoses, which are consumables in nature.

Shares of BHARAT ELECTRONICS LTD. was last trading in BSE at Rs.140.9 as compared to the previous close of Rs. 139.05. The total number of shares traded during the day was 978790 in over 5170 trades.

The stock hit an intraday high of Rs. 141.75 and intraday low of 137.1. The net turnover during the day was Rs. 137252637.

Source : Equity Bulls

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