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Bharat Dynamics shines on bagging order worth Rs 8161 crore from Indian Army
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Bharat Dynamics is currently trading at Rs. 1003.50, up by 48.40 points or 5.07% from its previous closing of Rs. 955.10 on the BSE.
The scrip opened at Rs. 981.90 and has touched a high and low of Rs. 1010.00 and Rs. 980.00 respectively. So far 45590 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1026.00 on 27-Oct-2022 and a 52 week low of Rs. 538.45 on 31-Mar-2022.
Last one week high and low of the scrip stood at Rs. 1010.00 and Rs. 879.00 respectively. The current market cap of the company is Rs. 17505.19 crore.
The promoters holding in the company stood at 74.93%, while Institutions and Non-Institutions held 15.64% and 9.43% respectively.
Bharat Dynamics (BDL) has signed a contract for Rs 8161 crore with the Ministry of Defence, Govt of India for production and supply of Akash Weapon System to the Indian Army. The contract, which was signed at New Delhi today is for two regiments of Indian Army. The order is to be executed in three years. Further, Bharat Dynamics also received an order of Rs 261 crore for CMDS for MLH Helicopters. The consolidated order book position of BDL has now reached a staggering figure around of Rs 24,021 crore with the signing of this new contract.
The financial year, 2022-23, has been an eventful year for the Company with new orders received from domestic and international market, setting up of State-of-the-Art manufacturing facilities, unveiling of new products for the armed forces, signing of MoUs with foreign and Indian Companies which have opened up new business opportunities for BDL. The company has received several orders in the current year for supply of various systems which includes Astra MK-I Air to Air Missile (AAM) and associated equipment for the Indian Air Force and Indian Navy. In addition to this, BDL has received order of Counter Measures Dispensing System.
Bharat Dynamics is engaged in manufacturing of Surface to Air missiles (SAMs), Anti-Tank Guided Missiles (ATGMs), underwater weapons, launchers, countermeasures and test equipment.
