Bharat Dynamics rallied 4.62% to Rs 367 after the company said it received an order worth Rs 372.98 crore for supplying MRSAM Missile Rear Sections for Indian Air Force deliverables.
The order is said to be executed on or before 30 November 2023 in lots. The announcement was made during market hours today, 1 March 2021.
The company's standalone net profit fell 7.5% to Rs 49.19 crore on 8.9% decline in net sales to Rs 451.56 crore in Q3 December 2020 over Q3 December 2019.
Bharat Dynamics manufactures defense equipment. The company offers ammunitions, counter measures dispensing, infra red interference indicators, and missile systems. It serves military and aerospace industries in India. As of 31 December 2020, the Government of India held 74.93% stake in the company.
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