Bharat Dynamics shares rally 5% on winning Rs 8,161 crore

Bharat Dynamics (BDL) has experienced a significant increase in its stock price, with a rise of 48.40 points or 5.07% from its previous close of Rs. 955.10 on the BSE. Currently, the stock is trading at Rs. 1003.50. The stock opened at Rs. 981.90 and has seen a high of Rs. 1010.00 and a low of Rs. 980.00. The company's market cap is currently Rs. 17505.19 crores. BDL has signed a contract worth Rs. 8161 crores with the Indian Army for the production and supply of the Akash Weapon System for two regiments, with the order to be executed in three years. In addition, the company has received an order of Rs. 261 crores for CMDS for MLH Helicopters, bringing the consolidated order book position of BDL to around Rs. 24,021 crores.

The current financial year, 2022-23, has been eventful for the company, with new orders received from both domestic and international markets, new manufacturing facilities established, new products unveiled for the armed forces, and MoUs signed with foreign and Indian companies opening up new business opportunities for BDL.BDL, a company engaged in the production of Surface to Air missiles (SAMs), Anti-Tank Guided Missiles (ATGMs), underwater weapons, launchers, countermeasures, and test equipment, has received several orders in the current year. Among these orders are the supply of various systems, such as Astra MK-I Air to Air Missile (AAM) and associated equipment for the Indian Air Force and Navy, as well as an order for Counter Measures Dispensing System. The company's promoters hold a majority stake of 74.93%, while institutions and non-institutions hold 15.64% and 9.43%, respectively.