Shares of Bharat Dynamics climbed 2.1 percent on Thursday, February 23, two days after the company reported that it has bagged an export order worth $255 million.
During Thursday’s trade, the stock opened at a price of Rs. 926.95 per share against the previous close of Rs. 922.30 per share and grew further during the early trading session to touch an intraday high of Rs. 941.65 apiece.
It was trading at ₹940.95, up by 2.02 percent at 11:10 a.m. on the NSE.
The stock touched a 52-week-high of Rs. 1,026.95 on October 27, 2022 and a 52-week-low of Rs. 406.50 on February 24, 2022, indicating that at the current level, the stock is trading over 131.70 percent above its 52-week low and just 8 percent below its 52 week high.
The stock has grown over 15 percent in the last six months. Moreover, the stock gave a positive return of nearly 115 percent and outperformed its sector by 66.2% in the past year. Furthermore, the stock has returned almost 140 percent to its shareholders in the last five years.
The company informed the stock exchanges that the export order will be subjected to government clearances.
Last week, at the Aero India-2023 event in Bengaluru, Bharat Dynamics showcased its largest-ever display of products and signed agreements with Thales, Al Tariq, and Bultexpro. The company has also collaborated with the Indian Institute of Technology-Madras and Tamil Nadu Industrial Development Corporation.
It also launched three new products: Vertical Launched Short-Range Surface to Air Missile (VLSRSAM), Semi-Active Laser Seeker Anti-Tank Guided Missile (SALS ATGM) for BMP-II and Drone Delivered Missile (JISHNU).
The company has seen an improvement in order visibility, thanks to a successful export order win and recent developments. This is expected to have a positive impact on the company's future prospects.
Bharat Dynamics is engaged in the manufacturing of Missiles and allied Defence Equipments. The Company provides majority of its goods and services to the Indian Armed forces and the Government of India.
According to a Mintgenie poll, an average of 6 analysts have a ‘BUY’ call on the stock.