Bharat Dynamics Secures Orders Worth Over Rs 2,400 Crore From Indian Army
Earlier last month, the Ministry of Defence had inked a contract with the company worth Rs 2,095.7 crore.
Bharat Dynamics Ltd. has secured additional orders worth Rs 2,462 crore from the Indian Army, according to an exchange filing on Monday.
There is no further information or specifics that are provided regarding the order due to national security reasons. The ATGMs, according to the exchange filing, is set to be executed in a span of 42 months while the SAMs are to be executed in a span of 12 months or one year.
Earlier last month, the Ministry of Defence had inked a contract with the company worth Rs 2,095.70 crore. This was for the procurement of INVAR Anti-tank Missiles, under the 'Buy (Indian)' category, according to a PIB press release.
The contract was signed by senior officials of the Ministry of Defence and representatives of BDL in the presence of Defence Secretary Rajesh Kumar Singh at South Block, New Delhi on Thursday.
The procurement of the INVAR Anti-tank Missiles aims to enhance the firepower and lethality of Tank T-90, a mainstay of Armoured Regiments of the Indian Army.
The weapon system is a sophisticated laser-guided anti-tank missile with a very high hit probability. It is expected to transform the conduct of mechanised operations and offer operational advantage against adversaries.
"The procurement underscores the Government’s efforts to meet the operational requirements of the Indian Army by leveraging the existing expertise of Defence Public Sector Undertakings," the release said.
"Along with development of niche technologies by domestic industries towards achieving 'Aatmanirbharta' in defence," it added.
Bharat Dynamics stock closed 1.10% higher at Rs 1,530 apiece, compared to an 0.10% advance in the benchmark Nifty 50 at close on Monday. It has risen 33.07% in the last 12 months.
