SOURCE: BUSINESS STANDARD
Bharat Dynamics jumped 5% to Rs 224.85 after the company said it received a Rs 293.33-crore order from Indian Air Force. Bharat Dynamics received an order to supply MRSAM missile sections for Indian Air Force deliverables. The order has to be executed in next 24 months. The announcement was made during trading hours today, 6 May 2020.
The stock has gained 7.38% in two trading sessions from its previous closing low of Rs 209.4 posted on 4 May 2020. BDL’s standalone net profit fell 71.8% to Rs 53.18 crore on a 49.6% decline in net sales to Rs 495.42 crore in Q3 December 2019 over Q3 December 2018.
Bharat Dynamics manufactures defense equipment. The company offers ammunitions, counter measures dispensing, infra red interference indicators, and missile systems. BDL serves military and aerospace industries in India.
https://defencenewsofindia.com/bharat-dynamics-bags-orders-from-iaf-for-mrsam/
