Bharat Electronics, a state-owned electronics company, announced that it has incorporated joint venture company (JVC) with Thales Air Systems SA, France and Thales India in Radar Business Area.

Earlier on July 05, 2012, the board of directors has taken decision to form the JVC.

Shares of the company declined Rs 3.35, or 0.16%, to trade at Rs 2,105.95. The total volume of shares traded was 5,253 at the BSE (10.51 a.m., Tuesday).