Bharat Electronics

Sept 17 (Reuters) - Bharat Electronics Ltd BAJE.NS:

• BEL - BEL RECEIVES ORDERS WORTH 6.48 BILLION RUPEES

Source text: ID:nBSE304vzv

Further company coverage: BAJE.NS

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** Defence equipment manufacturer Bharat Electronics BAJE.NS rises 1.2% to 411.6 rupees

** Co wins orders worth 7.3 billion rupees ($76.51 million)

** Orders include communication equipment, radar systems, avionics, tank subsystems and electro-optic systems, among other products

** BAJE trades at forward 12 month PE of 40.17, in-line with industry median

** 28 of 30 brokerages covering the stock rate it "buy" or higher; their median PT is 500 rupees

** YTD, stock up 1.8% vs 7.4% decline in Nifty 50 Index .NSEI

($1 = 95.4100 Indian rupees)

(Reporting by Abhinav Parmar in Bengaluru)

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Aug 21 (Reuters) - Data Patterns (India) Ltd DATP.NS:

• GETS ORDER WORTH 5.86 BILLION RUPEES FROM BEL

Source text: ID:nnAZN4TFLJG

Further company coverage: BAJE.NS

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Aug 10 (Reuters) - Bharat Electronics Ltd BAJE.NS:

• SECURES ORDERS WORTH 5.41 BILLION RUPEES

Source text: [ID:]

Further company coverage: BAJE.NS

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July 31 (Reuters) - Bharat Electronics Ltd BAJE.NS:

• BEL - BEL RECEIVES ORDERS WORTH 8.47 BILLION RUPEES

Source text: ID:nBSECn5y7

Further company coverage: BAJE.NS

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** Shares of Bharat Electronics BAJE.NS down 3.3% at 393.7 rupees, lowest level since December 2025

** State-owned electronics manufacturer on Monday reported first-quarter total expenses up nearly 30% y/y; rev from ops rose 25% and net profit rose 8.7% y/y

** UBS ("buy", PT 500 rupees) says gross margins declined to 45.5%, down 775 bps y/y, largely due to adverse product mix

** Jefferies ("buy") reduces TP to 550 rupees from 585 rupees and lowers FY28-29 EPS estimates by 2-3%

** Adds that lower-than-expected margins were offset by strong revenue, execution

** Dolat Capital ("buy", TP at 490 rupees) notes order inflow decline of 50.9% y/y, order book decline of 3.5% y/y; says execution outpaced fresh order booking in qtr

** YTD, stock down 1.5%

(Reporting by Saikeerthi and Abhirami G in Bengaluru)

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BENGALURU, July 27 (Reuters) - Diary of India economic, corporate events on July 27

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom)

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July 13 (Reuters) - Bharat Electronics Ltd BAJE.NS:

• BEL - GETS ORDER WORTH 5.72 BILLION RUPEES

Source text: ID:nnAZN4T7FN5

Further company coverage: BAJE.NS

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By Saurabh Sharma and Aftab Ahmed

NEW DELHI, June 22 (Reuters) - The Indian government is in talks with the UAE to sell some of its flagship defence systems, including the supersonic cruise missile BrahMos, four Indian sources said, as the Gulf nation steps up arms procurement following the war in the Middle East.

The discussions, which have not been previously reported, include the potential sale of India's air defence system Akashteer, two sources with direct knowledge of the matter told Reuters.

"UAE has shown interest for a number of our weapon systems including BrahMos and Akashteer. The talks between India and UAE are at initial stages and are progressing fast," said a third source with direct knowledge of the matter.

Indian officials and the UAE foreign ministry did not respond to requests for comment.

BrahMos, jointly developed by India and Russia, is among the world's fastest cruise missiles and can be launched from land, sea and air platforms, while Akashteer is a fully automated air defence system developed by India's state-run Bharat Electronics Ltd BAJE.NS and the Indian Army.

The UAE is considering buying defence equipment from India and other sources after the Gulf nation was heavily attacked by Iran during the war and as it enhances its ability to respond to emerging threats. It also needs to protect the Strait of Hormuz, a crucial conduit for its energy exports.

Earlier this year, the UAE signed a memorandum of understanding with South Korea to promote defence cooperation that would be worth more than $35 billion.

"A diversified supplier base gives the UAE more strategic autonomy, and closer ties with India have the added benefit of not antagonising the U.S. as the countries remain allies," said Pearl Pandya, South Asia senior analyst at Armed Conflict Location & Event Data, a conflict monitoring group.

According to data from the Stockholm International Peace Research Institute (SIPRI), the U.S. was the biggest exporter of arms to the Middle East between 2021 and 2025, supplying 54% of imports, followed by Italy at 12% and France at 11%.

Before clinching any BrahMos sale to the UAE, India would require Russia's approval, as the 290-km (180-mile) range missile is jointly developed. One source said this is unlikely to pose a hurdle given Moscow's close ties with Abu Dhabi.

Siemon Wezeman, a senior researcher with SIPRI's arms transfers programme, said both the BrahMos missile and Akashteer system would potentially serve the UAE's needs, even if international competition to sell Gulf states arms was increasing and the UAE had experience with other suppliers.

TIGHTER TIES BETWEEN INDIA, UAE

The UAE already has the U.S. MGM-168 ATACMS ballistic missile, according to the International Institute for Strategic Studies, which has a maximum range of 300 km. For air defence, it has the sophisticated U.S. THAAD and Patriot systems.

Akashteer would help knit together information from other devices to combat an air threat, defence experts said.

While India had a track record of reports of arms export deals that did not always bear fruit, Wezeman said upcoming sales to the UAE and other Gulf states were possible.

Closer ties between India and the UAE in recent years have led to a flurry of deals on trade and energy and a pact to jointly develop military hardware.

The talks to sell India's flagship weapons systems is further evidence of changing alignments in the region, and India sees its deepening partnership as a counter to the recent defence pact between Saudi Arabia and Pakistan, according to two Indian government sources.

"The growing ties must also be understood against the backdrop of wider regional geopolitical dynamics, in particular the competition between Riyadh and Abu Dhabi for regional leadership," Pandya said.

"Expanded defence ties between India and the UAE essentially serve as a form of strategic signalling, allowing both countries to showcase the strength and depth of their partnerships," she added.

INDIA'S DEFENCE EXPORTS SURGING

Last year's four-day war between India and Pakistan, when India used weapons systems including BrahMos for the first time in battle, sparked buyer interest from other countries, two of the Indian sources said.

Since then, India has signed deals to sell the BrahMos to Vietnam and Indonesia. It has also received interest from Thailand, South Africa, Brazil and Chile, the two sources said. The embassies of those countries in New Delhi did not respond to emails seeking comment.

The only previous sale of the BrahMos was to the Philippines in 2022.

India's defence exports surged to over $4 billion in the year ending March 2026, from just $7.26 million in 2013-14, according to the Indian government.

India is also the world's second-largest buyer of arms, accounting for over 8% of global arms imports, according SIPRI.

($1 = 94.5250 Indian rupees)

(Reporting by Saurabh Sharma and Aftab Ahmed in New Delhi; additional reporting by Greg Torode in Hong Kong, Editing by Raju Gopalakrishnan)

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May 27 (Reuters) -

• INDIA SEEKS PROPOSALS FOR FIFTH GEN COMBAT AIRCRAFT FROM LT-BHARAT ELECTRONICS, TATA ADVANCED SYSTEMS, BHARAT FORGE-BEML - ANI CITING DEFENCE OFFICIALS

Source text: [ID:]

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May 25 (Reuters) - Bharat Electronics Ltd BAJE.NS:

• BEL - GETS ORDER WORTH 6.08 BILLION RUPEES

Source text: ID:nnAZN4SYCAV

Further company coverage: BAJE.NS

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BENGALURU, May 19 (Reuters) - Diary of India economic, corporate events on May 19

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom)

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May 5 (Reuters) -

• INDIA GOVERNMENT: DEFENCE MINISTRY SIGNS 14.76 BILLION RUPEES CONTRACT WITH BHARAT ELECTRONICS FOR GROUND-BASED MOBILE ELECTRONIC SYSTEMS FOR INDIAN ARMY

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March 31 (Reuters) -

• INDIA GOVERNMENT: MOD & BEL SIGN 19.50 BILLION RUPEES CONTRACT FOR MOUNTAIN RADARS FOR IAF

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March 30 (Reuters) - Bharat Electronics Ltd BAJE.NS:

• BEL RECEIVES ORDERS WORTH 16.60 BILLION RUPEES

Source text: ID:nNSE8Mt9F1

Further company coverage: BAJE.NS

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March 25 (Reuters) - RRP Defense Ltd RRPD.BO:

• RRP DEFENSE LTD - SIGNS MOU WITH BEL FOR COLLABORATION IN SEMICONDUCTORS, UNMANNED SYSTEMS, ELECTRO-OPTICS

Source text: ID:nBSE47tD9F

Further company coverage: RRPD.BO

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March 18 (Reuters) - Bondada Engineering Ltd BOND.BO:

• UNIT SECURES ORDER FROM BHARAT ELECTRONICS

• ORDER WORTH 3.6 MILLION RUPEES

Source text: ID:nBSEcbnBr0

Further company coverage: BOND.BO

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March 17 (Reuters) - Bharat Electronics Ltd BAJE.NS:

• RECEIVES ORDERS WORTH 10.11 BILLION RUPEES

Further company coverage: BAJE.NS

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Feb 27 (Reuters) - Bharat Electronics Ltd BAJE.NS:

• DIVIDEND OF 1.95 RUPEES PER SHARE

Source text: ID:nnAZN4SISS5

Further company coverage: BAJE.NS

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Feb 25 (Reuters) - Bharat Electronics Ltd BAJE.NS:

• BEL RECEIVES ORDERS WORTH 7.33 BILLION RUPEES

Source text: ID:nNSEcgR9Cf

Further company coverage: BAJE.NS

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NEW DELHI, Feb 19 (Reuters) - France and India are entering a new era of defence cooperation with plans to jointly produce Rafale fighter jets as well as helicopters, French President Emmanuel Macron said on Thursday, adding France also hopes to sell more submarines to India.

India's expected order for another 114 Rafales is a "new step forward" in defence ties between the two countries and France hopes to see this replicated with submarines as well, Macron told reporters at the end of a three-day visit to India.

"On Rafale, what we want to do is expand. India confirmed a few days ago its willingness to command a new bunch of Rafales... 114... and to co-produce in India," Macron said.

The Defence Acquisition Council of India's defence ministry last week gave initial clearance to acquire 114 more Rafale jets for the air force, besides other planes and missiles, months after the worst fighting in decades between India and Pakistan.

So far, India has purchased 36 Rafales for its air force and ordered another 26 marine versions of the jet for the navy.

Details of the Rafale deal including plans for co-production, expected to be sealed after technical and commercial negotiations, are yet to be made public. Indian media reports have said that the 114 jets manufactured by Dassault Aviation AM.PA are expected to cost 3.25 trillion rupees ($35.65 billion).

They have also reported that up to 90 of the 114 jets could be produced in India with a joint venture partner who is yet to be identified.

"Rafale is absolutely key," Macron said. "I hope we will do it on submarines. We offered additional capacities."

The Indian navy operates six French Scorpene submarines and local media reports say there are plans to order more.

On Tuesday, Macron and Indian Prime Minister Narendra Modi announced the first H125 helicopter assembly line, made in India by a joint venture between Airbus AIR.PA and Tata Advanced Systems, as well as a plan to jointly produce HAMMER missiles in India, by Safran SAF.PA and India's state-owned Bharat Electronics BAJE.NS.

Rafale jets flown by the Indian Air Force were in the spotlight during India’s conflict with Pakistan last May.

Reuters reported that Pakistan’s Chinese-made J-10C jets shot down at least one Rafale, citing U.S. officials.

New Delhi has confirmed losses in the air but has not acknowledged a Rafale being shot down.

($1 = 91.1680 Indian rupees)

(Reporting by Shilpa Jamkhandikar; Editing by YP Rajesh and Susan Fenton)

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Corrects source to Indian foreign ministry, not Safran SA

Feb 17 (Reuters) - India Foreign Ministry:

• INDIA’S BEL AND FRANCE’S SAFRAN TO JOINTLY PRODUCE HAMMER MISSILES IN INDIA – INDIAN FOREIGN MINISTRY

Source text: [ID:]

Further company coverage: SAF.PA

** India's Bharat Electronics BAJE.NS fall 1.5% to 446.20 rupees

** State-run defence electronics firm posted a 20.4% rise in Q3 consol profit, nearly 24% jump in rev from ops on Wednesday

** BAJE gained 36.3% in 2025; stock up about 13% so far in Jan

STRONG EXECUTION SEEN LARGELY PRICED IN

** Brokerage CLSA ("outperform", PT:453 rupees) says Q3 execution was stronger than expected, but stock has already priced in much of the optimism

** Flags lumpy order flows, says near-term movement depends on execution of a large backlog

** Kotak Institutional Equities ("sell", PT: 390 rupees) says upside is limited after the recent rally and believes risk–reward is unfavourable at current levels

** JP Morgan ("overweight", PT: 556 rupees) says earnings beat estimates, but cautions margins may normalise, growth will depend on operating leverage and timely execution of orders

(Reporting by Surbhi Misra in Bengaluru)

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** Shares of BEL BAJE.NS climbs 9% to record high of 455.7 rupees

** State-owned aerospace and defense electronics co posts 20.4% rise in Q3 consol profit; rev from ops up nearly 24%

** Nifty India Defence index .NIFTYINDDEFENCE rises 5% on pre-budget rally

** Government expected to meaningfully raise capex for defence sector in the upcoming union budget on Feb. 1, per brokerage firms

** More than 33 million shares change hands vs 30 day average of 14.5 million shares

** Stock rated "Buy" on average by 25 analysts; median PT at 475 rupees as per data compiled by LSEG

** Stock rose 36.3% in 2025

(Reporting by Mridula Kumar in Bengaluru)

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Jan 23 (Reuters) - Bharat Electronics Ltd BAJE.NS:

• BEL RECEIVES ORDERS WORTH 6.10 BILLION RUPEES

Source text: ID:nBSE9fQ3nX

Further company coverage: BAJE.NS

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** Bharat Electronics (BEL) BAJE.NS rises as much as 2.1% to a seven-week high at 424.55 rupees

** State-owned aerospace and defense electronics co wins orders worth 5.96 billion rupees ($66.23 million)

** Major orders include drone detection and jamming system, mobile communication terminal, software solution, upgrades, spares, services

** Stock rated "buy" on avg by 25 analysts; median PT is 475 rupees, per data compiled by LSEG

** BAJE rose 36.3% in 2025

($1 = 89.9910 Indian rupees)

(Reporting by Brijesh Patel in Bengaluru)

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Jan 8 (Reuters) - Bharat Electronics Ltd BAJE.NS:

• GOT ORDER WORTH 5.96 BILLION RUPEES

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Jan 1 (Reuters) - Bharat Electronics Ltd BAJE.NS:

• RECEIVES ORDERS WORTH 5.69 BILLION RUPEES

Source text: ID:nNSE7hc7RD

Further company coverage: BAJE.NS

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Dec 29 (Reuters) - Bharat Electronics Ltd BAJE.NS:

• BEL - BEL RECEIVES ORDERS WORTH 5.69 BILLION RUPEES

Source text: ID:nBSEbNvz0D

Further company coverage: BAJE.NS

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Dec 26 (Reuters) - Astra Microwave Products Ltd ASTM.NS:

• SIGNS MOU WITH BHARAT ELECTRONICS LIMITED

Source text: ID:nBSE3pVZ9J

Further company coverage: ASTM.NS

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