Government of India aims to reduce the country's dependence on imports of defence equipment and have a more 'self -reliant' defence sector under the Aatmanirbhar Bharat initiative.
The market price of BDL has surged 35 per cent in six trading days after exchanging MoU with UAE firm to explore new business opportunities.
The counter witnessed three-fold jump in volume with a combined 2.3 million equity shares changing hands on the NSE and BSE.
With this contract, the company's order book position stands at Rs 11,400 crore (net), BDL said in an exchange filing.
BDL has been working in collaboration with DRDO & foreign Original Equipment Manufacturers (OEMs) for manufacture and supply of various missiles and allied equipment to Indian Armed Forces.