Bharat Electronics has entered into contracts worth about Rs 92 billion with Mazagon Dock (MDL) and Garden Reach Shipbuilders and Engineers (GRSE) to supply LRSAM systems to be fitted onboard seven ships to be built by these two shipbuilders. This is the highest-ever single value order bagged by BEL.

With this the order book of the company has crossed Rs 500 billion for the first time in history of BEL as on September 05, 2018.

The company is confident that this is just a beginning and is looking at maintaining a healthy order inflow with business segments such as Radars & Weapon Systems, Electronic Warfare Systems, Fire Control Systems, Communication Systems and C4I Systems driving its growth in the coming days.

Shares of the company declined Rs 1.1, or 1.16%, to trade at Rs 93.40. The total volume of shares traded was 112,115 at the BSE (9.16 a.m., Thursday).