New Delhi (Anish Yande): Shares of Bharat Dynamics Limited rose by 3 per cent on Friday’s trading session following the announcement of Bharat Dynamics Limited signing a Rs 499-crore contract with the Ministry of Defence. Bharat Dynamics Limited shares opened at Rs 385 per share rising to an intraday high of Rs 399 per share from its previous close of Rs 372 per share. The market cap of the company rose to Rs 7.028 crore.
Bharat Dynamics Limited signs Rs 499-crore contract with IAF:
Bharat Dynamics Limited has signed a Rs 499-crore contract with the Ministry of Defence. The ammunition manufacturer would be supplying Akash Missiles to the Indian Air Force under the contract.
The contract between Bharat Dynamics Limited and the Indian Air Force was signed by Commodore T N Kaul (Retd), Executive Director, on behalf of BDL and Air Commodore Ajay Singhal, Air Commodore, on behalf of the Indian Air Force. The contract was signed in the presence of P Radhakrishna, Director (Production), BDL on Thursday in New Delhi.
Akash Missiles can target aircraft at a range of up to 80 km at altitudes up to 18,000 metres. The missiles have been successfully test-fired on several instances. Akash Missiles are equipped with a 60 kg high-explosive, pre-fragmented warhead.
Siddharth Mishra, the Chairman and Managing Director of Bharat Dynamics Limited has stated that the company is manufacturing and supplying Akash Missiles to the Indian Army and Indian Air Force.
Bharat Dynamics receives export requests:
Bharat Dynamics Limited has also received export requests from some countries expressing interest in obtaining the Missile. The company develops projects under the Integrated Guided Missile Development Programme (IGMDP).
BDL has stated that it has a robust infrastructure and expertise for fulfilling export orders and meeting the customer delivery schedule. The company manufactures air to air Missiles, air to surface weapons, underwater weapons, and anti-Tank Guided Missiles among other defence equipment.
In March, Bharat Dynamics Limited has signed a contract with the Defense Ministry for manufacturing and supplying Milan-2T anti-tank guided missiles.
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