AMN
The Defence Ministry today signed a contract with Bharat Dynamics Limited for the supply of Medium-Range Surface-to-Air Missiles (MRSAM) for the Indian Navy at a cost of around three thousand crore rupees. According to the Ministry, the MRSAM system is a standard fit, onboard multiple Indian Naval Ships and is planned to be fitted on the majority of the future platforms planned for acquisition. It said that the contract marks a critical milestone in the ongoing efforts to bolster India’s defence capabilities and indigenous advanced military technology.
BDL shares jumped 8.31 per cent to hit a day high of Rs 1,227.90. The stock was last seen trading 5.23 per cent up at Rs 1,192.95. At this price, it has gained 36.67 per cent in a year.
Around 40,000 shares changed hands on BSE at the time of writing this story. The figure was lower than the two-week average volume of 64,000 shares. Turnover on the counter came at Rs 4.73 crore, commanding a market capitalisation (m-cap) of Rs 43,747.40 crore. There were 1,36,074 sell orders today against buy orders of 16,955 shares.
On technical setup, the counter traded higher than the 5-day, 10-, 20-, 50-day and 100-day simple moving averages (SMAs) but lower than the 30-day, 150-day and 200-day SMAs. The stock’s 14-day relative strength index (RSI) came at 53.61. A level below 30 is defined as oversold while a value above 70 is considered overbought.