Navratna Defence PSU Bharat Electronics (BEL) has on February 20, 2019, signed an MoU with JSR Dynamics (JSR), a Nagpur-based start-up Company, at Aero India 2019 in Bengaluru.

The MoU aims at leveraging the individual design and manufacturing capabilities of BEL and JSR to develop weapons and light weight cruise missiles, which have business potential in both the domestic and international markets. Anandi Ramalingam, Director (Mktg), BEL, and Air Marshal (Retd) S B Deo, Managing Director, JSR Dynamics, signed the MoU in the presence of M V Gowtama, CMD, BEL, Directors and other senior officers of BEL.

BEL has, as part of the Government of India's Start-up India Initiative, been extending its support to start-up Companies.

Shares of the company declined Rs 0.5, or 0.64%, to trade at Rs 78.20. The total volume of shares traded was 124,060 at the BSE (10.25 a.m., Monday).