Bharat Electronics Limited (BEL) on June 28 inked a contract worth Rs 3,172 crore with Armoured Vehicles Nigam Limited (AVNL) at the latter’s headquarters in Chennai, the state-run company said in an exchange filing.

The share price of the company gained 1.59 percent to settle at Rs 309.35 on NSE.

Under the contract, the defence public sector undertaking will supply and install an indigenously designed and developed Sighting and Fire Control System (FCS) for the upgrade of BMP 2/2K tanks of the Indian Army, along with a comprehensive engineering support package, the exchange filing said.

In addition, the navratna company has secured other orders valued at Rs 481 crore following the last disclosure on May 22, 2024, which comprises of Doppler Weather Radar, Classroom jammers, spares and services etc. With these, BEL has received accumulated orders totalling Rs 4,803 crore in the current financial year.