MoD ropes in Bharat Dynamics to supply Akash Missiles; stock zooms 7%

The company has signed a contract worth about Rs 499 crore with Ministry of Defence for manufacture and supply of Akash Missiles to the Indian Air Force (IAF)

Shares of Bharat Dynamics (BDL) rallied 7 per cent to Rs 399 on the BSE in the intra-day trade on Friday after the company signed a contract worth about Rs 499 crore with Ministry of Defence for manufacture and supply of Akash Missiles to the Indian Air Force (IAF).

With the present contract signed for supply of Akash to Indian Air Force, the company's order book position stands at about Rs 8,683 crore.

"The company has bagged new orders worth about Rs 2,803 crore (including taxes) during the FY 2020-21 which includes Anti - Tank Guided Missiles order