India's missile-linked stocks rise on govt nod to boost combat readiness

Data Patterns (India)

11/01/2023 10:00

** Shares of Data Patterns  DATP.NS , Astra Microwave
 ASTM.NS  and Bharat Dynamics  BARA.NS  rise between 3.54% and
4.71%, after defence acquisition council approves three
proposals worth 42.76 bln rupees
    ** The council granted approval to procure HELINA anti-tank
guided missiles, launchers and support equipment to be
integrated to the Advanced Light Helicopter, post market hours
on Tuesday
    ** The move is aimed at strengthening India's deterrence and
combat readiness
    ** Trading volume on Bharat Dynamics, which is engaged in
making guided missile systems, including surface-to-air missiles
was 871,306 shares, as of 3:15 p.m. IST, 1.5x the 30-day avg of
618,523 shares
    ** Trading volumes on electronics solution provider for
defence products, Data Patterns and  maker of subsystems for
defence products, Astra Micro Wave are slightly below the 30-day
avg
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))