Dassault Aviation and Dynamatic have entered into a strategic agreement for the manufacturing and assembly of the complete rear fuselage (Section 5) for Dassault's latest business jet, 'Falcon 6X'
NSE India Defence index was quoting higher for the third straight trading day, surging 3.7% during the period, as against 0.14% decline in the Nifty 50.
At 2 PM, Dynamatic Technologies share price was trading 6.32 per cent higher at ₹8,567.90 per share. By comparison, BSE Sensex was trading 0.36 per cent lower at 83,674.53 levels.
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In the past five weeks, the stock has rallied 108% after HNIs and renowned fund managers Madhusudan Kela and Sunil Singhania bought a stake in Dynamatic Technologies
At 09:19 am, around 263,471 equity shares, representing 4.15 per cent stake of Dynamatic Technologies, changed hands via block deal on the BSE, the exchange data shows
The stock surged 16% to Rs 1,875 on the BSE trade after the company announced that its board will meet on Wednesday, February 28, 2018 to consider and approve de-merger of auto division.