Dynamatic Technologies wins contract from Airbus, stock hits record high

Shares of Dynamatic Technologies Ltd hit their record high today after European multinational aerospace firm Airbus awarded a contract to the Indian company for manufacturing A220 aircraft doors.

Dynamatic Technologies stock zoomed 11.56% to a high of Rs 7790.80 on BSE. Market cap of the firm rose to Rs 5205.78 crore.

Airbus awarded a contract to Dynamatic Technologies for manufacturing all the doors of its narrow body A220 family of aircraft. The announcement was made at a function attended by Civil Aviation Minister Jyotiraditya Scindia and others on Thursday.

The financial details of the deal were not disclosed.

Bengaluru-based Dynamatic Technologies already manufactures the Flap Track Beam of the Airbus A330 and A320 Family aircraft.

This is one of the single-largest export contracts for an Indian aerospace manufacturing company.

Udayant Malhoutra, CEO and Managing Director of Dynamatic Technologies, said, "This export award is among the largest ever placed on an Indian manufacturer by any Global Aviation OEM, and is a strong testament to Make-In-India. We are delighted to have been chosen by Airbus to produce the doors for the A220, which is the most advanced and efficient aircraft in its class."

Dynamatic Technologies Limited, designs and builds highly engineered products for Aerospace, Hydraulic, Metallurgy and Security applications at its state-of-the-art design, engineering and manufacturing facilities in Europe and India. Dynamatic is engaged in the development of exacting Airframe Structures and Precision Aerospace Components and partners Agencies of National Importance as well as Global Aerospace Majors.

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