PSU stock: BDL Shares up by 4%; bags order from Ministry of Defence
The increase in the stock price is due to the state-run company announcing that it has bagged an order worth Rs 4,362.23 crore for the supply of armaments to the Indian Armed forces from the Ministry of Defence.
Shares of Defence PSU Mini Ratna stock, Bharat Dynamics Ltd, surged as much as 4% in Wednesday's trading sessions. The stock has hit an intraday high of Rs 1,357.70.
The increase in the stock price is due to the state-run company announcing that it has bagged an order worth Rs 4,362.23 crore for the supply of armaments to the Indian Armed forces from the Ministry of Defence.
The contract order details are not disclosed for national security purposes.
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Shares of the defence firm have surged to the highs of the session. Currently the shares are trading higher by 1.11 pc to Rs 1330.15.
Along with this surge, the stock has extended its 2024 gains to 18%.
With this, the defence PSU stock has recovered 60% from its 52-week low of Rs 836.50 but still remains 25% below its peak of Rs 1,794.7.
By 30th September 2024, the order book stood at Rs. 18,852 crores. In FY25, the company secured new orders worth Rs. 154 crores.
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