Dynamatic Technologies zooms 20% as 4% equity changes hands via block deal

At 09:19 am, around 263,471 equity shares, representing 4.15 per cent stake of Dynamatic Technologies, changed hands via block deal on the BSE, the exchange data shows

Shares of Dynamatic Technologies were locked in an upper circuit of 20 per cent at Rs 1,991.60, also its record high on the BSE in Tuesday's intra-day session after 4 per cent equity of the company changes hands via a block deal.

At 09:19 am, around 263,471 equity shares, representing a 4.15 per cent stake of Dynamatic Technologies changed hands via block deal on the BSE, the exchange data shows. The name of the buyer and seller were not ascertained immediately.

Meanwhile, till 12:41 pm, a combined 619,362 equity shares or 9.71 per cent of the total equity of the company had changed hands on the BSE and NSE. There were pending buy orders for 47,463 shares on both the exchanges, the data shows.

As of June 30, 2021, the promoters held 48.78 per cent holding in Dynamatic Technologies. Of the 51.22 per cent stake held by public shareholders, foreign portfolio investors held 11.60 per cent stake, followed by individual shareholders (26.42 per cent), mutual funds (7.02 per cent) and bodies corporate (4.04 per cent), the shareholding pattern data shows.

In the past three months, the stock has zoomed 101 per cent, as compared to a 10.5 per cent rise in the S&P BSE Sensex. In the last one year, it has rallied 236 per cent, as against a 43.3 per cent gain in the benchmark index.

Dynamatic Technologies designs and builds highly engineered products for automotive, aerospace, hydraulic and security applications at its facilities in Europe and India. Dynamatic is a demonstrated leader for the development of exacting airframe structures and precision aerospace components for major global aerospace companies.

For the April-June quarter (Q1FY22), the company has reported a consolidated net profit at Rs 2.52 crore, against a loss of Rs 7.76 crore in Q4FY21 and Rs 16.94 crore in Q1FY21.

On July 26, 2021, Dynamatic Technologies announced that it has completed 150 ship sets of Airbus A330 Flap Track Beam assemblies and handed them over to Airbus. This is one of the most successful Make in India programs, the company said.

Dynamatic Technologies has been producing Flap Track Beam assemblies for Airbus A330 Aircraft as global single source supplier along with single-aisle Airbus A320 aircraft family on a global single source basis.