Dynamatic Tech surges after signing MoU with SAAB Technologies

Dynamatic Technologies gained 3.98% to Rs 1,399.90 at 09:21 IST on BSE after the company signed a memorandum of understanding with SAAB Technologies with an intent to explore future joint opportunities.

The announcement was made after market hours yesterday, 21 February 2019.

Meanwhile, the S&P BSE Sensex was down 61.81 points or 0.17% at 35,836.54

On the BSE, 133 shares were traded on the counter so far as against the average daily volumes of 274 shares in the past two weeks. The stock had hit a high of Rs 1,420 and a low of Rs 1,386 so far during the day.

Dynamatic Technologies has signed a Memorandum of Understanding with SAAB Technologies with an intent to explore future joint opportunities in commercial and defence related work, including Gripen fighter aircraft.

Dynamatic Technologies had after market hours on 20 February 2019 announced that the company has signed a Memorandum of Understanding (MoU) with Joint-Stock Company (JSC) Russian Helicopters on Ka-226T Helicopter with an intent to build major structural assemblies for fuselage and aggregate assembly, sub-assemblies and detail parts fabrication.

On a consolidated basis, Dynamatic Technologies' net profit surged 3363.64% to Rs 3.81 crore on 10.97% rise in net sales to Rs 366.56 crore in Q3 December 2018 over Q3 December 2017.

Dynamatic Technologies designs and builds high precision systems and sub-systems for Aerospace, Automotive, Hydraulics, and Homeland Security & Defense.

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