Dynamatic Technologies inches up on receiving contract from Airbus
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Dynamatic Technologies is currently trading at Rs. 7395.35, up by 20.30 points or 0.28% from its previous closing of Rs. 7375.05 on the BSE.
The scrip opened at Rs. 7447.95 and has touched a high and low of Rs. 7610.25 and Rs. 7316.80 respectively. So far 1714 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 7790.80 on 08-Feb-2024 and a 52 week low of Rs. 2431.05 on 14-Feb-2023.
Last one week high and low of the scrip stood at Rs. 7790.80 and Rs. 6333.10 respectively. The current market cap of the company is Rs. 5008.72 crore.
The promoters holding in the company stood at 41.87%, while Institutions and Non-Institutions held 28.19% and 29.95% respectively.
Dynamatic Technologies has received new contract from Airbus to manufacture and supply the main passenger doors, service doors, cargo doors and over-wing emergency exit doors for the A220. Aircraft doors are critical structures, incorporating advanced technologies to meet the stringent requirements for safety and overall efficiency.
This contract not only marks a significant milestone, but also showcases the success of the Make in India initiative. Over the past decade, Airbus and Dynamatic have collaborated to develop a fully qualified ecosystem of over 100 aerospace companies ranging from MSME to Large scale organizations. This contract will fully leverage the strength of the Indian aerospace ecosystem to deeply industrialize airplane doors for the global aviation industry. Dynamatic intends to work with large supplier-partners like Mahindra Aerostructure, Motherson Aerospace, Aequs, Wipro Aerospace and Ferra Aerospace. By utilizing India’s cutting-edge engineering and manufacturing facilities, Dynamatic will ensure the doors meet the highest quality standards demanded by Airbus.
Dynamatic Technologies is the largest producer of Hydraulic Gear Pumps in Asia and one of the top five worldwide. The company designs and builds highly engineered products for Automotive, Aeronautic, Hydraulic and Security applications.
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