Bharat Dynamics gains on getting cabinet approval for Akash missile exports

Union Cabinet gave clearance for Akash weapon system to export. With this, Bharat Dynamics Limited (BDL) is gearing up to take up export orders. 

Reacting to this, the stock of Bharat Dynamics today jumped 2.18 per cent and made an intraday high of Rs 346.50 per share. 

BDL has seen export potential and demand for Akash in the international market. Due to this, it has been promoting the product at various forums, including national and international exhibitions. The missile, which will be offered for exports, will be of a different version. 

Akash is a medium-range surface-to-air missile, designed & developed by DRDO with 96 per cent indigenous content, and it is being manufactured by BDL at its Hyderabad unit. The range of Akash missile is 25 km, up to an altitude of 18 km, operating at a speed range of 1.8 to 2.5 Mach. 

The company reported a net profit of Rs 26.25 crore in Q2FY21, a decrease of 75.34 per cent. It had reported a profit of Rs 106.46 crore in Q2FY20. The company reported net sales of Rs 240.03 crore for Q2FY21, a decrease of 62.50 per cent as against the net sales of Rs 641.63 crore for Q2FY20. 

At 12.21 pm today, the share of Bharat Dynamics was trading at Rs 343.15 per share on BSE, up by 1.19 per cent.