Ths stocks of Bharat dynamics have risen by 55.28% in the last one month and 79.36% in the past three months. The state-owned midcap defense stock, incorporated in the year 1970, is a Mid Cap company (having a market cap of Rs 13,126.60 Crore) operating in the Defence sector and is listed on BSE and NSE.
The stock is currently trading at a share price of Rs 716.2 and a TTM PE of 26.47. On Friday, the stock hit a new high after the stock surged 15.3% in a day.
The stocks have risen after UAE firm Tawazun Economic Council (TEC) exchanged a Memorandum of Understanding (MoU) to explore new business opportunities in various areas of mutual interest in the field of defense. On February 2, 2022, the company signed a contract worth Rs 3,131.82 crore with the Indian Army.
In the Q3 of FY21–22 ending in December’21, Bharat Dynamics reported a net sales of Rs 803.90 Cr with a profit after tax of Rs 213.26 Cr. The reported operating expenses in the duration were Rs 514.39 Cr and an operating profit of Rs 289.52 Cr.
Earlier, ICICI Securities has add call on Bharat Dynamics with a target price of Rs 600.
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