Bharat Dynamics share price hits 52-week high on contract with Indian Army

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A meeting of the board will be held on February 14 to consider and approve unaudited financial results

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Bharat Dynamics share price touched a 52-week high of Rs 535.70, adding 10 percent in early trade on February 3 after the company signed a contract worth Rs 3,131.82 crore with the Indian Army.

Bharat Dynamics has signed the contract for manufacture and supply of Konkurs – M AntiTank Guided Missiles, the company said in its press release.

With the contract, which will be executed in three years, the order book position of the company now stands at Rs 11,400 crore (net).

“Konkurs – M is being manufactured by Bharat Dynamics under a licence agreement with a Russian OEM (original equipment manufacturer). The missile has been indigenised up to maximum extent. Bharat Dynamics is also offering Konkurs- M missile for export to friendly foreign countries,” said Bharat Dynamics chairman and managing director Siddharth Mishra.

A meeting of the board of directors will be held on February 14 to consider and approve unaudited financial results for the quarter and nine months ended December 31.

The board will also consider declaration of interim dividend for the financial year 2021-22, if any.

The record date for the purpose of payment of interim dividend will be February 24, if any declared by the board.

At 09:29 hours Bharat Dynamics was quoting at Rs 523.90, up Rs 36.50, or 7.49 percent, on the BSE.