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Bharat Dynamics share rises 6% after firm inks deal to make anti-tank missiles

Bharat Dynamics share touched an intraday high of Rs 366.9, rising 6.07% against previous close of Rs 345.90 on BSE

twitter-logoBusinessToday.In | March 22, 2021 | Updated 11:41 IST
Bharat Dynamics share rises 6% after firm inks order to make anti-tank missiles
Bharat Dynamics share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Bharat Dynamics share rose over 6% today after the firm won a Rs 1,188-cr order to make anti-tank missiles. Bharat Dynamics share has gained 4.99% in the last 2 days. The stock opened with a gain of 5.23% at Rs 364 on BSE. It touched an intraday high of Rs 366.9, rising 6.07% against previous close of Rs 345.90 on BSE.

Bharat Dynamics share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Market cap of the firm rose to Rs 6,561 crore. The midcap stock has gained 96% in one year and risen 6% since the beginning of this year.

Defence PSU has inked a contract worth Rs 1,188 crore, including GST, with the Ministry of Defence to manufacture and supply MILAN 2T anti-tank guided missiles. The receipt of this order from the defence ministry has boosted the existing order book of the company. The order book of the company including the current one is over Rs 9,000 crore.

In line with the Central government's initiative for creation of Atmanirbhar Bharat in the defence sector, many items have been exclusively earmarked for the Indian industry and a negative list of imports has been released by the Ministry of Defence, the firm said.

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Bharat Dynamics  Ltd's (BDL) products - short range surface-to-air missile and Astra air-to-air weapon system - are covered under this list and some more products of the company are expected to be brought into the subsequent list being released by the Ministry of Defence, it said.

BDL is also working on export of weapon system to friendly foreign countries. The company has a well-established infrastructure and expertise to execute these orders and meet the customer delivery schedule, the release said.

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