Bharat Dynamics spurts after Defence Ministry inks contract worth Rs 2,960 crore
• Bharat Dynamics (BDL) surged 5.33% to Rs 1194.05 after the Ministry of Defence (MoD) signed a contract worth Rs 2,960 crore for the supply of medium-range surface-to-air missiles (MRSAM) for the Indian Navy.
• The MRSAM missiles would be supplied by BDL at a cost of approximately Rs 2,960 crore.
• The Ministry of Defence’s contract is a significant step towards enhancing India’s naval defence capabilities.
• BDL’s net profit dropped 82.74% to Rs 7.22 crore in Q1 FY25 as against Rs 41.82 crore recorded in Q1 FY24.
• Revenue from operations stood at Rs 191.17 crore in the June 2024 quarter, down 35.79% from Rs 297.72 crore reported in the same quarter previous.
• The agreement, signed in the presence of defence secretary Rajesh Kumar Singh, will further boost India’s efforts to bolster its defence capabilities.
• The MRSAM system is a standard fit, onboard multiple Indian ships.
