Bharat Dynamics had declared about OFS on September 07, 2020, under which, the government had planned to sell 15 per cent stake in the company.

The company has acquired 16,00,000 equity shares, i.e., 100 per cent of the paid-up capital of MACPPL at Rs 79 per share. This makes the total deal price to be Rs 12,64,00,000. The entire consideration has been paid in cash.

The stock price has surged 35 per cent within the last one month. Its better-than-expected volume performance, the company's foray into new business such as anti-microbial coated steel products, and better utilisation levels might have helped the gains.

The investors though will need to take an exposure with caution. The market prices of a few select companies may have also gone past the actual momentum in original equipment manufacturers (OEMs).

The shares of the company are listed among that scrip which has not been appreciated sharply in the market turnaround. From its historic price fall in March 2020, the stock is trading higher by just 5 per cent.

In addition to this, due to the challenges and restrictions, its important customer segment that is ‘hotel, restaurant, and catering’ (HoReCa) segment also faced several challenges during the first quarter.

Key indicators such as aggregate bank deposits, bank credits, LIC premium, and CPI general index showed gains over the last year's values.

On the operational front, the sales volume declined 28 per cent on a YoY basis to 6.28 million tonnes in the first quarter of FY21. The resultant decline in the operating profit was 60 per cent over the same period last year to Rs 750 crore.

Avantel, a small-sized telecom equipment manufacturer, informed on Friday that it has signed a contract worth Rs 96.76 crore with IHQ, MoD (Indian Navy), for the supply of communication equipment for Indian Naval ships. Looking at its annual revenue of Rs 52 crore for FY20, this order is of quite a significance to the company.

Alembic has a total of 130 ANDA approvals, out of which, 113 are final approvals while 17 have tentative approvals from USFDA.