Bharat Dynamics surged 7.61% to Rs 860.75 after the company entered into ten memorandum of understandings (MoU) with several foreign and Indian companies during Aero India 2023.
Bharat Dynamics has signed MoU with Thales, EDGE Group entity, AL TARIQ, UAE, Bultexpro, Bulgaria, Indian Institute of Technology Madras (IITM), Chennai and Tamil Nadu Industrial Development Corporation (TIDCO), Chennai.Commodore Siddharth Mishra (Retd), CMD, BDL stated that the MoUs signed with the new partners would open new avenues for greater cooperation between the companies / academia.
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 Government of India.
The company reported 61% drop in net profit to Rs 83.74 crore on 43% decline in total revenue from operations to Rs 461.55 crore in Q3 FY23 over Q3 FY22.
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