Bharat Dynamics advances on winning Rs. 760 crore contract

Bharat Dynamics, a government of India company, has signed a contract worth almost Rs. 760 crore with the Indian Army for production and supply of anti-tank guided missiles (ATGM) and launchers, according to the company’s filing with bourses.

The company further added that the missiles and launchers will be manufactured under continued technical collaboration with Russia at the Bhanur Unit of BDL in Telangana.

Bharat Dynamic, which got listed on the bourses in March 2018, is engaged in the production of SAM (surface to air missiles), ATGM (anti-tank guided missile), underwater weapons, launcher, countermeasures and test equipment. It is the only company in India to produce SAM and ATGM.

With respect to this positive development, the stock of Bharat Dynamic surged during Tuesday’s trading session. The stock which opened flat at Rs. 278.25 apiece jumped almost 10 per cent post announcement of this contract. However, later it cooled down and counter settled for the day at Rs. 292 apiece, up by almost 5 per cent from its previous close.