Market movers: Bharat Dynamics rockets 5% on deal with MoD; NCC spikes 5%

NEW DELHI: Shares of Bharat Dynamics zoomed on Tuesday after the company said it has signed a contract worth Rs 2,971 crore with the Ministry of Defence to supply missiles.

The contract is for the supply of ASTRA MK-I Beyond Visual Range (BVR) Air to Air Missile and associated equipment to the Indian Air Force and Indian Navy.

The stock rose over 5 per cent to Rs 783.75.

Big order for

NCC said it received three orders aggregating Rs 6,388 crore (exclusive of GST) in the month of May. All these orders were received under the Buildings Division, it said.

Out of them, one big order for Rs 5,688 crore was from Brihanmumbai Municipal Corporation for Design, Build, Operation & Maintenance of Malad Wastewater Treatment Facility under MSDP Stage-ll. This work comprises Rs 3,833 crore towards design and building in 6 years and Rs 1,855 crore towards operation & maintenance for 15 years from the date of completion of the work.

Rest of the two orders were received from state government agencies and didn’t include any internal orders.

Following the disclosure, the stock spiked 3 per cent to end at Rs 65.40.

NXT Digital and Thaicom Public Company made a joint announcement of having signed a binding Memorandum of Understanding (MOU) to form a strategic partnership to enter the Broadband-over-satellite (BoS) market and related services in India.

The MOU envisages a partnership that includes deployment of BoS systems on India-focused capacity, which could be enhanced to provide future additional capacity on a state-of-art software-defined high throughput satellite; augmenting the existing IPSTAR-1 that is the first broadband satellite in the world and operational over India since several years.

The partnership could also be in OneOTT Intertainment Limited (OIL), the broadband subsidiary of NXT Digital and India’s fourth-largest private ISP with over 1 million customers and a presence in 150+ cities and towns.

Following the disclosure, shares of the company spiked 4 per cent to Rs 382.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)

Source link

Recent Posts

Scan to Download
ios&Android APP

Open trading account and start trading!

Join our happy customers