Bharat Dynamics surges
Bharat Dynamics rose almost 8% today to Rs.844 on the back of over 3x surge in volumes. It has come off this high point and is now trading at Rs.819 levels.
The stock price reacted positively to the receipt of a new contract worth Rs 2,971 crore from Ministry of Defence.
This is for supply of Astra Mark-I beyond visual range air to air missile (BVRAAMs) and associate equipments to Indian Air Force and Indian Navy.
Last week, the company announced its Q4FY22 earnings wherein it reported a 47% (YoY) jump in turnover at Rs.2817 crore and PAT came in at Rs,500 crore, up by a good 94%.
The order book position of the company as on 1st April 2022 stood at Rs.10170 crore which will be executable in the next 2-3 years. The company has received leads for export of AKASH to friendly foreign countries, which is expected to be materialized in one to two years.