In a move that could provide a major boost to the civil aviation industry, the Airports Authority of India (AAI) has entered into an Memorandum of Understanding (Moll) with Navratna Defence PSU Bharat Electronics Limited (BEL), providing a platform for both the companies to collaborate and support each other to address the emerging global opportunities in the airport business, including those in the Asia Pacific region.
In furtherance of such cooperation, AAI, playing the role of a development partner, will render assistance to BEL in its domain of expertise to enable execution of the prestigious MEA projects outside India by BEL. Both the organisations will work in close co-operation with each other in the field of civil aviation, in both present and future projects handled by BEL.
The MoU was signed today by Mr Sanjai Kumar Singhal, General Manager (Business Development), AAI, and Mr Manoj Kumar, Executive Director (National Marketing), Regional Office-Delhi, BEL, at the AAI Corporate Headquarters, in the presence of Mr Arvind Singh, Chairman, AAI, Mr M V Gowtama, CMD, BEL, and senior Management of both the organisations through video conferencing.
Addressing experts from both the sides, Chairman, AAI, exuded optimism that the partnership between the two organisations would prove to be a game-changer in the Indian aviation sector in the years to come. He also said that the manufacturing of Communication, Navigation & Surveillance (CNS) equipment in India will reduce the cost substantially and will save foreign exchange outflow, paving the way for an "Atmanirbhar Bharat".
CMD, BEL, affirmed that the MoU would provide for synergy of capabilities of both the organisations in their respective domains, leading to mutually beneficial and lasting solutions in the ever-growing field of aviation. He also said that with the skills and expertise of AAI, BEL is hopeful of entering into the domestic civil aviation market as well into the South-East Asian, African and Latin American civil aviation markets.
Shares of BHARAT ELECTRONICS LTD. was last trading in BSE at Rs.97.1 as compared to the previous close of Rs. 98.45. The total number of shares traded during the day was 775868 in over 4033 trades.
The stock hit an intraday high of Rs. 100.15 and intraday low of 95.6. The net turnover during the day was Rs. 75928325.