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BDL gains on Rs 471-cr deal with Indian Army

Capital Market 

Bharat Dynamics (BDL) rose 2.63% to Rs 423.10 after the company said that it has signed a contract with the Indian Army worth Rs 471.41 crore for refurbishment of IGLA - 1M missiles.

After the refurbishment, a fresh lease of life will be given to the missile for a period of ten years, BDL said.

Bharat Dynamics (BDL) is the only company in India involved in manufacturing various types of missiles and underwater weapons for supply to the Indian Armed Forces and friendly foreign countries. The company also handles launchers, test equipment, refurbishment / life extension of missiles and counter measures systems for domestic as well as international market.

As of 30 September 2021, the Government of India held 74.93% stake in the company.

The company reported a 64.8% rise in standalone net profit to Rs 43.25 crore on a 102.7% increase in net sales to Rs 486.54 crore in Q2 FY22 over Q2 FY21.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, December 02 2021. 15:37 IST