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The Ministry of Defence has signed a tripartite memorandum of understanding (MoU) with BEML Limited, Bharat Electronics Limited (BEL) and Mishra Dhatu Nigam Limited (MIDHANI) for the development of advanced fuelling and control system for engines for heavy duty applications.
Shares of BEML Ltd, Bharat Electronics and Mishra Dhatu Nigam increased on the NSE on Tuesday.
According to the Ministry’s statement, the MoU was signed by Chairman & Managing Director of BEML Limited Shantanu Roy; CMD of MIDHANI Dr SK Jha; and CMD of BEL Bhanu Prakash Srivastava, in the presence of Defence Secretary Giridhar Aramane in New Delhi.
The collaboration will focus on leveraging indigenous capabilities to design, test, and manufacture an advanced fuelling and control system that provides enhanced efficiency, performance, and reliability. The companies aim to extend their domain expertise for the development of engine systems.
On the NSE, Mishra Dhatu Nigam stock surged by 3.17 per cent to trade at ₹434.55 as of 1:45 pm, BEML stock rose by 1.78 per cent to trade at ₹3,273, and BEL stock was up by 0.64 per cent to trade at ₹210.95.
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