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Bharat Dynamics sizzles after order win

Bharat Dynamics was up 3.01% to Rs 294.45 at 14:40 IST on the BSE, after the company announced that it has received an order for supply of heavy weight torpedoes.

The announcement was made during market hours today, 11 June 2019.

Meanwhile, the S&P BSE Sensex was up by 245.49 points or 0.62% to 40,030.01

On the BSE, 10,000 shares were traded in the counter so far compared with average daily volumes of 6,724 shares in the past two weeks. The stock had hit a high of Rs 304.85 and a low of Rs 281.85 so far during the day. It hit a 52-week high of Rs 407.50 on 15 June 2018 and a 52-week low of Rs 224 on 14 February 2019.

Bharat Dynamics announced that the company has signed a contract worth Rs.1187.82 crore for supply of heavy weight torpedoes. The contract has to be executed in next 42 months.

Bharat Dynamics reported a 63.1% slide in net profit to Rs 124.13 crore on a 57.1% decline in the net sales to Rs 859.47 crore in Q4 March 2019 over Q4 March 2018.

Bharat Dynamics designs and manufactures under water guided weapon systems.

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