Monday , September 27 2021

Bharat Dynamics surges on signing licencing agreement with MBDA

Bharat Dynamics is currently trading at Rs. 381.90, up by 10.70 points or 2.88% from its previous closing of Rs. 371.20 on the BSE.

The scrip opened at Rs. 387.00 and has touched a high and low of Rs. 387.40 and Rs. 376.60 respectively. So far 13348 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 455.00 on 19-Aug-2020 and a 52 week low of Rs. 280.70 on 22-Sep-2020.

Last one week high and low of the scrip stood at Rs. 397.90 and Rs. 367.85 respectively. The current market cap of the company is Rs. 6994.01 crore.

The promoters holding in the company stood at 74.93%, while Institutions and Non-Institutions held 18.33% and 6.75% respectively.

Bharat Dynamics (BDL) has signed a licencing agreement with MBDA to establish a facility for the Final Assembly, Integration and Test (FAIT) of Advanced Short Range Aijr-to-Air Missile (ASRAAM) missiles in India.

Under the licensing agreement, MBDA will transfer the equipment and knowledge to BDL for establishing the facility. Work on establishing this capability in India is due to start immediately and is expected to commence operations by the year 2022-23.

Bharat Dynamics is engaged in manufacturing of Surface to Air missiles (SAMs), Anti-Tank Guided Missiles (ATGMs), underwater weapons, launchers, countermeasures and test equipment.

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