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Bharat Dynamics Edges Greater After Signing Rs 499 Crore Agreement With Defence Ministry

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Shares of Bharat Dynamics settled 2.25 per cent higher at Rs 381.10 apiece on the BSE.Share rate of Bharat Dynamics Limited edged greater by more than two per cent on Friday, July 9, a day after the business signed an agreement with the Ministry of Defence for the supply of missiles.

On Friday, Bharat Characteristics opened on the BSE at Rs 385.10, swinging to an intra day high of Rs 399 and an intra day low of Rs 377.50, throughout the trading session today.Bharat Characteristics signed a contract worth around Rs 499 crore with the Ministry of Defence for production and supply of Akash Missiles to the Indian Flying force, according to a regulatory exchange by the firm to the stock exchanges.The company likewise won brand-new orders worth about Rs.

2,803 crore (including taxes) during the financial year 2020-21, which includes anti-tank directed missiles order worth around Rs.1,820 crore and surface to air missiles order worth around Rs.793 crore.Established in 1970, Bharat Dynamics is one of the producers of rocket systems and ammunitions in the country.

It is headquartered in Telangana and is the nodal agency for the production of missiles established by India.

The company is the prime production firm for projects under India's Integrated Guided Missile Development Program or IGMDP.Bharat Dynamics also manufactures Anti-Tank Guided Missiles, air to air rockets, launchers, undersea weapons, anti-tank guided rockets, test devices, among others.On the NSE, Bharat Dynamics opened at Rs 385, inching to an intra day high of Rs 399 and an intra day low of Rs 378.10, throughout the session today.

It settled at 1.65 percent higher at Rs 378.50 on the NSE.

Shares of Bharat Dynamics settled 2.25 per cent greater at Rs 381.10 each on the BSE.




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