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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.

Bharat Dynamics Ltd Akash Weapon System
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 ...