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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.

SI Reporter  |  Mumbai 

Bharat Dynamics Ltd Akash Weapon System
Photo: Bloomberg

Shares of 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 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 in state, the company said in a statement.

At 03:09 pm, 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 and NSE so far.


First Published: Tue, January 08 2019. 15:13 IST
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