NEW DELHI: Bharat Dynamics shares climbed 6 per cent on Monday, after the defence PSU signed a contract worth Rs 1,188 crore, including GST, to manufacture and supply anti-tank guided missiles MILAN 2T.
The order book position of the company, including the fresh order, stands at Rs 9,000 crore. CMD of BDL Commodore Siddharth Mishra (Retd.) said the receipt of this order has given a boost to the company’s existing order book.
Following the development, the scrip rose 6.07 per cent to hit a high of Rs 366.90 on BSE.
In line with the Central government’s initiative for creation of Atmanirbhar Bharat in the defence sector, many items have been exclusively earmarked for the Indian industry and a negative list of imports has been released by the Ministry of Defence, it said.
BDL’s products such as the short-range surface-to-air missile and the Astra air-to-air weapon system are covered under this list, and some more products of the company are expected to be brought into the subsequent list being released by the Ministry of Defence, it said.
BDL is also working on exports of weapon systems to friendly foreign countries. The company has a well-established infrastructure and expertise to execute these orders, and meet the customer delivery schedule, the release said.