Bharat Dynamics stock hits new 52-week high on signing contract of Rs3,132cr with Indian Army

3 Feb 2022 , 01:07 PM

Bharat Dynamics Limited (BDL) and Indian Army have signed a contract worth Rs3,131.82cr for manufacture and supply of Konkurs – M Anti-Tank Guided Missiles to the Indian Army. The contract, which was signed at New Delhi on Wednesday, will be executed in three years.

On Thursday, BDL hits 52-week high at Rs535.70 per share during early trade while at around 1:08 PM, it was trading higher by 6.19% at Rs517.55 per share on Sensex.

The order book position of BDL stands at Rs11,400cr (net) including the Konkurs-M contract signed.

CMD, BDL Commodore Siddharth Mishra (Retd) stated that Konkurs – M is being manufactured by BDL under license agreement with a Russian OEM (Original Equipment Manufacturer). The missile has been indigenized upto maximum extent. BDL is also offering Konkurs- M missile for export to friendly foreign countries.

BDL has augmented its manufacturing capacity to meet the domestic as well as overseas demand for Konkurs – M. As a part of its global outreach, BDL is also offering Man Portable Anti-Tank Guided Missiles, Nag, Milan-2T and Amogha, in addition to Konkurs — M, for exports.

Konkurs – M is a Second Generation, mechanized infantry Anti-Tank Guided Missile, to destroy armored vehicle equipped with Explosive Reactive Armour. The Missile can be launched either from BMP-II tank or from ground launcher. It has a range between 75 to 4000 metres with a flight time of 19 secs.

BDL is laying lot of thrust on indigenization of its products manufactured under Transfer of Technology with foreign OEMs. The Atmanirbharta mission initiated by Government of India has given momentum to the indigenization efforts of the Company. The Company is also strengthening its in-house R & D capabilities to take up product innovation in order to mitigate Indian armed forces’ product dependency on foreign countries.