Stock Market Today: Following THIS defense PSU claim in Operation Sindoor during India-Pakistan tension, the share price of Defence PSU BEL surges to a 52-week high, which also happens to be its record high during intraday transactions on Wednesday.
Announcement from Defence PSU BEL
“The Integrated Drone Detection & Interdiction System manufactured by BEL has proven to be a game-changer for India’s Air Defense,” stated Bharat Electronics, or BEL, in a tweet on Wednesday. During Operation Sindoor, the laser-based anti-drone technology destroyed a number of Pakistani low RCS drones.
The rise in tensions between India and Pakistan as well as Operation Sindoor have already kept the share price of the Defence PSU, or Public Sector Undertaking BEL, in the spotlight. The government’s emphasis on Atmanirbhar Bharat has kept the local defense industry companies focused, and as a result, the share price of BEL is still in the spotlight.
Part of the Indian Defense Ministry, Bharat Electronics Limited, or BEL, is a Navratna PSU. It was established in 1954 with the intention of gaining autonomy in the defense electronics sector. BEL manufactures a wide range of electronic systems and equipment for the Army, Navy, and Air Force. It has also branched out into domains like homeland security, smart cities, e-governance, and space electronics.
Given the tension between India and Pakistan and Operation Sindoor, it is not surprise that the price of BEL shares has been rising.
BEL share price scales 52-week high and Record High
The share price of Bharat Electronics, or BEL, opened Wednesday at ₹339 on the BSE. Compared to the closing price of ₹335.75, the share price of Defence PSU BEL was about 1% higher at the time of opening. BEL share price thereafter jumped to intraday highs of ₹345.90, which signified gains of slightly more than 3% in the intraday transactions. The 52-week high for the price of BEL shares and the record high for the price of Defence PSU BEL shares were both reached at the intraday high.
The price of BEL’s shares has increased by over 17% in the past month, and it has already increased by about 50%. The share price of Defence PSU BEL has increased by more than 1425 percent, providing investors with multibagger gains.
