Bharat Dynamics inks deal worth Rs. 760 cr, Stock Up

Bharat Dynamics Limited, one of India’s ammunition and missile systems manufacturer, has signed a contract valued about Rs.760 crore with the Indian Army for production and supply of anti-tank guided missiles and launchers, as per company’s filing with stock exchanges.

The company further stated that it will make missiles and launchers under continual technical alliance with Russia at the Bhanur Unit of Bharat Dynamics Ltdin Telangana.

Apropos of this prestigious development, the stock of Bharat Dynamic jumped during Tuesday’s trading session on the NSE. The stock which opened flat at Rs. 282.90 per share surged near 10 percent after the announcement of this contract. However, when trade progressed, it cooled down and scrip settled for the session at Rs. 293 per share, up by 5.26% from its previous close on the NSE.