This Indian missile manufacturing company bagged an export order worth USD 255 million

Shares of the company surged by more than 4.5 per cent after the company announced receiving the order

The previous day’s close of the shares was at Rs 872.75. On Monday, the shares opened at Rs 873.00 on BSE and made the day high at Rs 922.80 a piece. 

The export order for Bharat Dynamics (BDL) is USD 255 million. The order will be carried out pending government approval. The business had previously signed Memorandums of Understanding (MoUs) with several international and Indian businesses. To establish production facilities for the Laser Guided Rocket and its primary components in India, the business has signed an Agreement with Thales.

Bharat Dynamics (BDL), is a Government of India Enterprise. It is engaged in the manufacturing of guided missiles and allied defence equipment. One of the top defence PSUs in India, BDL produces undersea weapons, launchers, countermeasures, and test equipment as well as Surface to Air missiles (SAMs), Anti-Tank Guided Missiles (ATGMs), and Surface to Air missiles (SAMs). awarded the Mini-ratna (Category -1). The only manufacturer of SAMs, torpedoes, and ATGMs in India is BDL. The only source of SAMs and ATGMs for the Indian armed forces is BDL. The business of refurbishing and extending the life of deployed and stored missiles is another one in which the corporation is active. The business and the DRDO are also co-developing the next generation of ATGMs and SAMs. 

The 52-week high of the stock is Rs 1,026 whereas the 52-week low was Rs 407.70. Promoter’s holdings stood at 74.93%, whereas Institutional and Non-Institutional holdings are 15.64% and 9.43%, respectively. Presently, the market cap of the company is Rs 16,535.63 crore.