Bharat Dynamics hits new high; stock surges 34% in 8 straight sessions

The counter witnessed three-fold jump in volume with a combined 2.3 million equity shares changing hands on the NSE and BSE.

Shares of Bharat Dynamics (BDL) hit a new high at Rs 597 on rallying 8 per cent on the BSE in Thursday’s intra-day trade on the back of heavy volumes. The stock of the state-owned defence company traded higher for the eight straight day, and has soared 34 per cent during this period.

At 02:02 pm; the stock was up 6 per cent at Rs 589, as compared to a 2 per cent rise on the S&P BSE Sensex. The trading volume at the counter jumped over three-fold with a combined 2.3 million equity shares changing hands on the NSE and BSE.

BDL, is a Government of India Enterprise under the Ministry of Defence and a manufacturer of Surface to Air Missile (SAM}, Anti-Tank Guided Missile (ATG M}, Torpedoes, and Allied Defence Equipments.

On February 2, 2022, the company signed a contract worth Rs 3,131.82 crore with the Indian Army. The contract is for manufacture and supply of Konkurs - M AntiTank Guided Missiles to the Indian Army, and will be executed in three years. With this contract, the company’s order book position stands at Rs 11,400 crore (net), BDL had said in an exchange filing.

Konkurs – M is being manufactured by BDL under license agreement with a Russian OEM (Original Equipment Manufacturer). The missile has been indigenized upto maximum extent. BDL is also offering Konkurs- M missile for export to friendly foreign countries, the company said.

BDL in FY21 annual report said that it will witness a high growth in the coming years. The export market has also opened up and BDL's product like Akash Weapon Systems have generated lot of interest from potential buyers abroad.

BDL is getting leads for export of the missile from about nine countries. In addition to domestic market, BDL is also looking up to the foreign customers to consolidate the order books of the Company as well as become a global exporter of missiles system, which is a first of its kind. Apart from Akash and Light Weight Torpedo, your Company is also offering the Air to Air Missiles, Air to Surface Weapons, ATG Ms, Heavy Weight Torpedoes and Counter Measure Systems for exports, the company said.