Stock markets in India are presently trading marginally higher. Sectoral indices are trading on a mixed note with stocks in the information technology sector and consumer durables sector witnessing maximum buying interest. While energy stocks & metal stocks are trading in red.
The BSE Sensex is trading up by 87 points (up 0.3%), and the NSE Nifty is trading up by 13 points (up 0.1%). Meanwhile, the BSE Mid Cap index is trading up by 0.1%, while the BSE Small Cap index is trading up by 0.2%. The rupee is trading at 65.13 to the US$.
Engineering stocks are trading on a mixed note with Jindal Drilling & Jyoti Structures leading the gainers. As per an article in a leading financial daily, Bharat Electronics (BEL) has signed a Memorandum of Understanding (MoU) with Larsen & Toubro. The MoU is to share their expertise in design, development, engineering, and manufacturing to develop and produce products and systems to meet the requirement of the defense services as well as for export markets.
Reportedly, BEL and L&T have agreed to explore and address defense products/systems for the Indian Defence Services as well as export opportunities.
BEL has expertise in design, development, engineering, manufacture of Radar & Weapon Systems, Electronic Warfare & Avionics, Naval Systems, Electro-optics products, Tank Electronics & Gun Systems, while L&T has expertise in design, engineering and manufacture of Defence systems, Platforms and Weapon delivery, Armoured platforms, and Fire control systems, Military Communication, Naval Equipment, Warships & Submarines.
The MoU sets to define the roles and responsibilities of both the companies to cooperate and work in partnership mode for select programmes and thus give a boost to indigenous defense production.
Further, this collaboration will support the Make in India mission, the reports noted.