Bharat Dynamics gains on receiving orders worth Rs 632.88 crore

Bharat Dynamics Limited, one of the leading defence PSUs in India announced on Wednesday that the company has bagged order for a wire-guided anti-tank missile. Reacting to the news, its share jumped nearly 2 per cent during the early trading session on BSE. 

The company has received orders worth Rs 632.88 crore for Konkurs-M anti-tank guided missile (ATGM) along with launchers and test equipment. Konkurs-M is a second-generation, mechanised infantry ATGM, to destroy armoured vehicle equipped with explosive reactive armour, moving & stationary targets. 

Bharat Dynamics is engaged in the manufacturing of missiles and allied defence equipment. It is the sole manufacturer in India for surface-to-air-missiles (SAMs), torpedoes, anti-tank guided missiles (ATGMs). Its revenue mix comprises 96 per cent from the domestic market and 4 per cent from exports. Adding this order, the company's current order book stands at Rs 8,100 crore.   

At 9.44 am today, its share was trading 1.62 per cent higher at Rs 350.85. The share recorded an intraday high of Rs 355.80 and an intraday low of Rs 350.10 on BSE.