Bharat Dynamics stock flies higher after receiving Rs 290 crore order from IAF

Bharat Dynamics Share Price: The stock of Bharat Dynamics made a strong opening on Wednesday morning as it rose 2.52 per cent higher, or Rs 26.55, at Rs 1,081.15 after the defence sector company recieved order worth Rs 290.90 crore from the Indian Air Force on Tuesday. 

"Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, (as amended) we wish to inform that BDL has signed contract with IAF for supply of Surface to Air missiles order worth Rs.290.90 crore," the company said in a statement on Tuesday. The stock reached the day's high of Rs 1087.60 and is still in a strong position.

The performance of the shares is in contrast to their performance in the last one month.

While, the shares have been down 3.79 per cent in the last five trading sessions, they have slid 4.05 per cent in the last one month.

They have underperformed the benchmark Nifty 50 index, which has moved up 0.11 per cent in the last five trading sessions and 3.30 per cent in the last month.