L&T shares on the BSE were trading up marginally at ₹1,543 in a weak Mumbai market on Monday morning.
Prime Minister Narendra Modi had taken stock of the BSNL’s ailing condition a few months back, and a presentation was made by BSNL’s chairman.
Bellatrix is working on an electronic propulsion system for the Indian Space Research Organisation and projects of other undisclosed customers.
Even minor changes in regulations and law have had knock-on effects, hurting sales.
The announcement comes at a time when the existing reform scheme UDAY has been declared as a failure by several agencies.