Bharat Dynamics added 1.04% to Rs 1,328.85 after the company announced that it had signed a contract worth Rs 4,362.23 crore with the Ministry of Defence for the supply of armaments to the Indian Armed Forces.
In an exchange filing, the company stated that due to national security concerns, it could not disclose further details regarding the contract.The company also clarified that the contract does not fall under related party transactions and that the promoter group has no interest in the awarding entity.
Bharat Dynamics is engaged in the manufacturing of missiles and allied defence equipment. The company provides the majority of its goods and services to the Indian Armed Forces and the Government of India. As of 31 December 2024, the government of India holds 74.93% stakes in the company.
The company reported 16.7% fall in net profit to Rs 122.53 crore on a 12.2% decline in net sales to Rs 535.46 crore in Q3 FY25 as compared with Q3 FY24.
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