Dynamatic Technologies, Israeli aerospace firm inks pact for cooperation

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Dynamatic Technologies (DTL), Israel Aerospace Industries (IAI) and Elcom Systems entered into a strategic cooperation to jointly address the needs of Indian unmanned aerial vehicle (UAV) market.

The agreement involves production, assembly and support of UAV’s in India under government’s Make in India initiative.

Meanwhile, the stock soared 0.84% at Rs 2,499.95 per share on BSE. The stock has underperformed BSE Small-cap index by 30% on a yearly basis.

On NSE, the stock attracted a traded volume of 6,284 shares and a traded value of Rs 157.39 lakh on Thursday’s trade.

Dynamatic Technologies Limited is an India-based manufacturer of engineered products for the aerospace, automotive and hydraulic industries. The Company operates through three business segments: Automotive & Metallurgy, Hydraulics, and Aerospace & Defence.

Stock view :-

Dynamatic Technologies Ltd is currently trading at Rs 2455, down by Rs 24.15 or 0.97% from its previous closing of Rs 2479.15 on the BSE.

The scrip opened at Rs 2511.95 and has touched a high and low of Rs 2560 and Rs 2436.3 respectively. So far 8044(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1572.14 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 3650 on 24-Oct-2016 and a 52 week low of Rs 2320 on 16-Aug-2016. Last one week high and low of the scrip stood at Rs 2560 and Rs 2427.4 respectively.

The promoters holding in the company stood at 50.2 % while Institutions and Non-Institutions held 27.83 % and 21.98 % respectively.

The stock is currently trading below its 200 DMA.

Dynamatic Technologies Ltd :-
BSE 2,455.00 [24.15]    ([0.97]%)
NSE 2,440.10 [44.50]    ([1.79]%)


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