BEL signs Frame Supply Agreement with Thales Reliance Defence Systems

At Aero India 2023, Navratna Defence PSU Bharat Electronics Ltd (BEL) signed a Frame Supply Agreement with Thales Reliance Defence Systems (TRDS), Nagpur, for the manufacture and supply of TR Modules, Radar LRUs (Line Replaceable Units) and Micro Modules.

The Frame Supply Agreement aims at leveraging the complementary strengths and capabilities of BEL and TRDS.

As part of the Offset commitment under the Rafael-India Contract and in line with the 'Make in India' policy, BEL and TRDS have entered into an agreement for the manufacture and supply of TR Modules and Micro modules of Radar used in Rafael fighter aircraft. In continuation to the agreement signed between BEL and TRDS, BEL has received an order to manufacture and supply Micro Modules.

BEL, TRDS and Thales are active stakeholders in the 'Make in India' policy of the Government of India.

Thales Reliance Defence Systems Limited was incorporated in June 2017 under the Indian Companies Act, 2013. It's a Joint Venture Company between Thales, France and Reliance Defence Limited with the proposed shareholding of 49% and 51%, respectively.

Leveraging Thales' Offset commitment as part of the Rafael contract, the JV is to develop India's capabilities in integrating and maintaining Radar and Electronic Warfare sensors. The JV will develop skills and activity in the Special Economic Zone of MihanNagpur together with an Indian supply chain for the manufacturing of microwave technologies and high performance airborne electronics.

Shares of Bharat Electronics Limited was last trading in BSE at Rs. 94.65 as compared to the previous close of Rs. 95.35. The total number of shares traded during the day was 236692 in over 2020 trades.

The stock hit an intraday high of Rs. 96.20 and intraday low of 94.35. The net turnover during the day was Rs. 22584068.00.

Source : Equity Bulls

Keywords

BharatElectronics INE263A01024 BEL Defence FrameSupplyAgreement ThalesRelianceDefenceSystems