Bharat Dynamics surges on signing contract worth Rs 760 cr with Indian Army
The stock moved 15% higher to Rs 320 on NSE after the company signed contract worth around Rs 760 crore with the Indian Army for production and supply of ATGM and Launchers.
 "Bharat Dynamics Ltd Akash Weapon System")
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Attendees stand in front of Bharat Dynamics Ltd Akash Weapon System, manufactured by the DRDO, during the Aero India air show in Bengaluru in 2017. The Indian Army has asked the DRDO and BDL to develop an army version of the MR-SAM. Photo: Bloomberg
Shares of Bharat Dynamics jumped 15% to Rs 320 on the National Stock Exchange (NSE) Tuesday after the company said it has signed contract worth around Rs 760 crore with the Indian Army for production and supply of Anti-Tank Guided Missiles (ATGM) and Launchers.
The missiles and launchers will be manufactured under continued technical collaboration with Russia at the Bhanur unit of Bharat Dynamics in Telangana state, the company said in a statement.
At 03:09 pm, Bharat Dynamics was trading 6% higher at Rs 294 on the NSE, as compared to a 0.29% rise in the Nifty50 index. The trading volumes on the counter jumped more than three-fold with a combined 101,353 equity shares changed hands on the BSE and NSE so far.
The missiles and launchers will be manufactured under continued technical collaboration with Russia at the Bhanur unit of Bharat Dynamics in Telangana state, the company said in a statement.
At 03:09 pm, Bharat Dynamics was trading 6% higher at Rs 294 on the NSE, as compared to a 0.29% rise in the Nifty50 index. The trading volumes on the counter jumped more than three-fold with a combined 101,353 equity shares changed hands on the BSE and NSE so far.