Bharat Dynamics surges on signing contract worth Rs 760 cr with Indian Army

Photo: Bloomberg
Shares of Bharat Dynamics jumped 15% to Rs 320 on the National Stock Exchange (NSE) Tuesday after the company said it has signed contract worth around Rs 760 crore with the Indian Army for production and supply of Anti-Tank Guided Missiles (ATGM) and Launchers. 

The missiles and launchers will be manufactured under continued technical collaboration with Russia at the Bhanur unit of Bharat Dynamics in Telangana state, the company said in a statement.

At 03:09 pm, Bharat Dynamics was trading 6% higher at Rs 294 on the NSE, as compared to a 0.29% rise in the Nifty50 index. The trading volumes on the counter jumped more than three-fold with a combined 101,353 equity shares changed hands on the BSE and NSE so far.

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