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Dynamatic Technologies surges on agreement with Bell Helicopter

21 Dec 2012

Dynamatic Technologies is currently trading at Rs. 813.75, up by 38.75 points or 5.00% from its previous closing of Rs 775.00 on the BSE.

The scrip opened at Rs 775.00 and has touched a high and low of Rs 813.75 and Rs 775.00 respectively. So far 21 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs 1048.50 on 27-Jan-2012 and a 52 week low of Rs 590.00 on 06-Sep-2012.

Last one week high and low of the scrip stood at Rs. 813.75 and Rs 774.00 respectively. The current market cap of the company is Rs 419.64 crore.

The promoters holding in the company stood at 55.33% while Institutions and Non-Institutions held 26.20% and 18.47% respectively.

Dynamatic Technologies has inked a memorandum of understanding (MoU) with Bell Helicopter, a Textron Inc. Company to explore establishing Dynamatic as a sub-contractor for Bell 407 Air Frame Cabin Assembly, Air Frame Component and Details. The estimated business volume of the work proposed is approximately $243 USD over a ten year period starting in 2013.

Besides, Dynamatic has already qualified itself as well as an eco-system of sub-tier suppliers under the BELL Production System and has commenced trial production of airframe components and detailed parts. The commercial production which is scheduled to start shortly at the company’s Aeronautic Manufacturing facilities at Dynamatic Park Peenya, will be undertaken at Dynamatic Aerotropolis, Devanahalli, in the last quarter of 2013.

Dynamatic Technologies is engaged in the activity of manufacturing hydraulic gear pumps. It is also engaged in manufacturing a variety of advanced hydraulic valves, hydraulic pumping units, custom-made hydraulic solutions, marine power packs, turnkey industrial instrumentation, and complicated aircraft ground-support systems.

Related Dynamatic Technologies Ltd. Links:

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