The state-owned defence company has signed a contract for the production and supply of Milan-2T anti-tank guided missiles.
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Bharat Dynamics share price was up over 4 percent in the morning trade on March 22 after the state-owned defence company signed a Rs 1,188.12-crore contract for the production and supply of Milan-2T anti-tank guided missiles.
“We wish to inform that BDL has signed a contract for production and supply of Milan-2T anti-tank guided missiles today. The contract value is Rs 1188.12 crore including GST. The contract was signed by Dipti Mohil Chawla, Joint Secretary (AM & LS) on behalf of the ministry of defence and Commodore and TN Kaul (Retd), executive director (Marketing), BDL,” the company said in an exchange filing.
At 1046 hours, the stock was trading at Rs 359.15, up Rs 13.25, or 3.83 percent. It has touched an intraday high of Rs 366.90 and an intraday low of Rs 355.20.
The scrip also witnessed a spurt in volume by more than 1.94 times and was trading with volumes of 50,100 shares compared to its five-day average of 30,574 shares, an increase of 63.87 percent.
According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock is showing strong momentum—price above short, medium and long term moving averages. It has zero promoter pledge and low debt, with the company able to generate net cash. Cash flow has been improving flow for the last two years.
Moneycontrol technical rating is bullish, with moving averages strong and technical indicators neutral.
Disclaimer: Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
