Dynamatic Technologies Shares Soar 6% On Partnership With Deutsche Aircraft
The stock rose as much as 6.41% during the day to Rs 6,744.90 apiece on the NSE.
Shares of Dynamatic Technologies Ltd. jumped over 6% on Thursday after it announced a new partnership with Deutsche Aircraft.
The collaboration focuses on producing rear fuselage for the 40-seater D328eco regional turboprop aircraft, it said in an exchange filing on Wednesday.
"This partnership with Dynamatic Technologies signifies our ability to cooperate with the best in the field and further leverage our supply chain resilience," Maximilan Fahr, vice president - supply chain at Deutsche Aircraft, said. "As India is a key market for us in the APAC region, we are excited about this collaboration that represents a long-term commitment in India."
Dynamatic's stock rose as much as 6.41% during the day to Rs 6,744.90 apiece on the NSE. It was trading 6.28% higher at Rs 6,736.95 per share, compared to a 0.16% advance in the benchmark Nifty 50 as of 10:25 a.m.
The share price has risen 157.25% in the last 12 months. The total traded volume so far in the day stood at 1.6 times its 30-day average. The relative strength index was at 47.
