Bharat Dynamics bags Rs 2,960 crore order from defence ministry; stock jumps 8%
BDL shares jumped 8.31 per cent to hit a day high of Rs 1,227.90. The stock was last seen trading 5.23 per cent up at Rs 1,192.95. At this price, it has gained 36.67 per cent in a year.
- Jan 16, 2025,
- Updated Jan 16, 2025 2:14 PM IST
Bharat Dynamics Ltd (BDL) on Thursday said it secured an order valued at Rs 2,960 crore from the ministry of defence (MoD) to supply missiles for the Indian Navy. "Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, (as amended) we wish to inform that today BDL has signed a contract worth Rs 2960 Crore with Ministry of Defence for supply of Medium-Range Surface-to-Air Missiles (MRSAM) for the Indian Navy," the state-owned company stated in a BSE filing.
BDL shares jumped 8.31 per cent to hit a day high of Rs 1,227.90. The stock was last seen trading 5.23 per cent up at Rs 1,192.95. At this price, it has gained 36.67 per cent in a year.
Around 40,000 shares changed hands on BSE at the time of writing this story. The figure was lower than the two-week average volume of 64,000 shares. Turnover on the counter came at Rs 4.73 crore, commanding a market capitalisation (m-cap) of Rs 43,747.40 crore. There were 1,36,074 sell orders today against buy orders of 16,955 shares.
On technical setup, the counter traded higher than the 5-day, 10-, 20-, 50-day and 100-day simple moving averages (SMAs) but lower than the 30-day, 150-day and 200-day SMAs. The stock's 14-day relative strength index (RSI) came at 53.61. A level below 30 is defined as oversold while a value above 70 is considered overbought.
The scrip has a price-to-equity (P/E) ratio of 79.04 against a price-to-book (P/B) value of 11.72. Earnings per share (EPS) stood at 15.10 with a return on equity (RoE) of 14.83.
Antique Stock Broking has retained its 'Buy' call on BDL shares with a target price of Rs 1,357. "Exports, which are 13 per cent of the order book currently, have the potential to grow meaningfully as the Cabinet Committee on Security has approved the export of Akash missiles to nine countries. We, therefore, continue to maintain an optimistic stance on the stock and retain BUY rating with a target price of Rs 1,357 (40 times FY27E EPS)," the domestic brokerage stated.
Bharat Dynamics is a public sector undertaking (PSU) under the defence ministry. As of December 2024, the government held a 74.93 per cent stake in the defence PSU.
Meanwhile, Indian equity benchmarks extended their climb for the third straight session today, led by gains in state-owned lenders, metals, financial and realty stocks.
Bharat Dynamics Ltd (BDL) on Thursday said it secured an order valued at Rs 2,960 crore from the ministry of defence (MoD) to supply missiles for the Indian Navy. "Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, (as amended) we wish to inform that today BDL has signed a contract worth Rs 2960 Crore with Ministry of Defence for supply of Medium-Range Surface-to-Air Missiles (MRSAM) for the Indian Navy," the state-owned company stated in a BSE filing.
BDL shares jumped 8.31 per cent to hit a day high of Rs 1,227.90. The stock was last seen trading 5.23 per cent up at Rs 1,192.95. At this price, it has gained 36.67 per cent in a year.
Around 40,000 shares changed hands on BSE at the time of writing this story. The figure was lower than the two-week average volume of 64,000 shares. Turnover on the counter came at Rs 4.73 crore, commanding a market capitalisation (m-cap) of Rs 43,747.40 crore. There were 1,36,074 sell orders today against buy orders of 16,955 shares.
On technical setup, the counter traded higher than the 5-day, 10-, 20-, 50-day and 100-day simple moving averages (SMAs) but lower than the 30-day, 150-day and 200-day SMAs. The stock's 14-day relative strength index (RSI) came at 53.61. A level below 30 is defined as oversold while a value above 70 is considered overbought.
The scrip has a price-to-equity (P/E) ratio of 79.04 against a price-to-book (P/B) value of 11.72. Earnings per share (EPS) stood at 15.10 with a return on equity (RoE) of 14.83.
Antique Stock Broking has retained its 'Buy' call on BDL shares with a target price of Rs 1,357. "Exports, which are 13 per cent of the order book currently, have the potential to grow meaningfully as the Cabinet Committee on Security has approved the export of Akash missiles to nine countries. We, therefore, continue to maintain an optimistic stance on the stock and retain BUY rating with a target price of Rs 1,357 (40 times FY27E EPS)," the domestic brokerage stated.
Bharat Dynamics is a public sector undertaking (PSU) under the defence ministry. As of December 2024, the government held a 74.93 per cent stake in the defence PSU.
Meanwhile, Indian equity benchmarks extended their climb for the third straight session today, led by gains in state-owned lenders, metals, financial and realty stocks.