Bharat Dynamics bags order of Rs 499 crore for supply of Akash to IAF; stock trades in green
Bharat Dynamics Limited (BDL) signed a deal amounting to Rs 499 crore on Thursday with the Ministry of Defence for manufacturing & supply of Akash missiles to Indian Air Force.
With the clearance sought for Akash weapon system for export by Union Cabinet, the company is looking forward to overseas business. Some countries have already started to show interest in procuring Akash missiles from the company. It has got the necessary infrastructure and efficient management to execute the order.
The company manufactures anti-tank guided missiles, air-to-air missiles, air-to-surface missiles, launchers, underwater weapons, and counter-measure systems. Akash is one of the best missiles, which has been successfully test-fired. It is supplied to both Indian Army and Indian Air Force.
With this new Akash missile contract signed with IAF, the order book has reached to Rs 8,683 crore.
The stock was trading at Rs 385.15 at 10.41 am today on BSE, up by 3.33 per cent from its previous close. It has made a stunning day high of Rs 399.00.