Bharat Electronics Share Price in Focus; Company Approves 50:50 JV with Safran Electronics and Defence

Bharat Electronics Limited (BEL) has approved a joint venture with Safran Electronics and Defence of France for Project HAMMER. The decision was taken at the board meeting on 15 February 2026, as per the filing.  

The agreement will come into effect after the required regulatory and administrative approvals from authorities in both countries.  

Equal Ownership Structure 

The partners plan to set up a private limited company under the Companies Act, 2013. The new entity will start with an authorised share capital of ₹1 lakh, divided into 1,000 equity shares of ₹100 each. The capital may later be raised to ₹10 crore or another amount, depending on requirements.  

The equity will be held equally, with BEL and Safran each owning a 50% stake. The board will have 4 directors, 2 from each company.  

Focus on Guidance Kit Operations 

The joint venture will run a Centre of Excellence linked to the HAMMER weapon system. It will handle the manufacturing, supply, maintenance, and repair of the system’s guidance kit.  

The primary end users are expected to be the Indian Air Force and the Indian Navy. Other domestic users may be considered based on mutual agreement between the partners.  

Location and Board Structure 

The registered office and principal place of business are proposed to be in Pune or another location agreed by both sides. The chairman will be appointed by the board nominees, without a casting vote.  

Read More: BEL Q3FY26 Earnings Results Out: Net Profit Rises 20%! 

Bharat Electronics Share Price Performance  

As of February 16, 2026, 10:34 am, Bharat Electronics Ltd (BEL) share price was trading at ₹434.65, a 0.21% decrease from the previous closing price. 

Conclusion 

The proposed company will handle manufacturing, maintenance and repair of the HAMMER guidance kit for Indian defence users. The project is subject to approvals from relevant authorities. 

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