Dynamatic Technologies spurts after signing agreement

Dynamatic Technologies surged 5.84% to Rs 2,988.80 at 09:19 IST on BSE after the company announced signing a cooperation agreement with Magal Security Systems, an Israeli company.

The announcement was made after market hours yesterday, 6 April 2017.

Meanwhile, the S&P BSE Sensex was down 112.71 points or 0.38% at 29,814.63. Meanwhile, the S&P BSE Mid-Cap index was down 8.52 points or 0.06% at 14,268.02.

On BSE, so far 67 shares were traded in the counter as against average daily volume of 301 shares in the past one quarter. The stock hit a high of Rs 2,988.80 and a low of Rs 2,950 so far during the day. The stock had hit a 52-week high of Rs 3,650 on 24 October 2016. The stock had hit a 52-week low of Rs 1,696 on 6 April 2016.

The small-cap company has equity capital of Rs 6.34 crore. Face value per share is Rs 10.

Dynamatic Technologies said that the company had yesterday, 6 April 2017, signed a cooperation agreement with Magal Security Systems (Magal-S3), an Israeli company. This new cooperation aims to answer the Indian increasing market demand for high-end security products and solutions for critical infrastructure, among other, to provide combined integrated border management solutions (CIBMS) aimed to address the challenges in securing our borders.

Magal S3 has unique experience in perimeter security technologies and complex technological security projects, among other, defending Israel's borders, whilst Dynamatic Technologies has been a partner of Indian Defence and Security establishment for over 3 decades.

On consolidated basis, Dynamatic Technologies' net profit fell 52.03% to Rs 1.18 crore on 3.59% decline in net sales to Rs 346.87 crore in Q3 December 2016 over Q3 December 2015.

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

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