BDL

** Shares of Bharat Dynamics BARA.NS rise 4.2% to 1,549 rupees

** Co posts a 30% rise in revenue from operations yoy; PAT jumps 155% to 183.5 million rupees

** Co benefits from strong order book and easing of supply chain issues, Motilal Oswal says

** Motilal Oswal upgrades stock to "buy", PT at 1,900 rupees

** Brokerage sees strong TAM and emergency procurement to enhance BARA's revenue visibility
** BARA rated "buy" on avg by analysts covering it, as per data compiled by LSEG
** YTD, BARA up ~38% vs defense index's .NIFTYINDDEFENCE 20% rise

(Reporting by Komal Salecha)

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July 25 (Reuters) - Bharat Dynamics Ltd BARA.NS:

• RECEIVES ORDER FOR ATGM SUPPLY VALUED AT 8.09 BILLION RUPEES

Source text: ID:nBSE7bGrhH

Further company coverage: BARA.NS

(([email protected];;))

** Defense manufacturer Bharat Dynamics BARA.NS down 4.8% at 1,890.5 rupees

** Motilal Oswal initiates coverage with a "neutral" rating on stock, sets PT at 1,900 rupees

** Says, although it likes BARA's business model and ability to scale up order book and revenue, at current valuations it would look at lower price points to enter the stock

** Motilal's PT implies a downside of 4% to BARA's last closing price

** Motilal adds, BARA trades at 70x and 52x P/E on FY26 and FY27 estimates; its PT values BARA at 42x FY27 Sept end P/E

** YTD, BARA is up ~68%

(Reporting by Ananta Agarwal in Bengaluru)

(([email protected]))

June 20 (Reuters) -

• INDIA'S HINDUSTAN AERONAUTICS HIAE.NS WINS BID TO PRIVATELY MAKE SMALL SATELLITE LAUNCH ROCKETS - INDIA SPACE REGULATOR

• TWO CONSORTIUMS, LED BY ADANI UNIT ALPHA DESIGN AND BHARAT DYNAMICS HIAE.NS, WERE ALSO QUALIFIED BIDDERS - INDIA SPACE REGULATOR

• HINDUSTAN AERONAUTICS APPLIED INDEPENDENTLY AND NOT AS PART OF A CONSORTIUM - INDIA SPACE REGULATOR

Further company coverage: HIAE.NS

(([email protected];))

April 2 (Reuters) - Bharat Dynamics Ltd BARA.NS:

• BHARAT DYNAMICS LTD - ACHIEVES TURNOVER OF OVER 33 BILLION RUPEES IN FY 2024-25

Source text: ID:nBSE2kWMbB

Further company coverage: BARA.NS

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March 26 (Reuters) - Bharat Dynamics Ltd BARA.NS:

• BHARAT DYNAMICS LTD - SIGNS 43.62 BILLION RUPEES CONTRACT WITH MINISTRY OF DEFENCE

• BHARAT DYNAMICS LTD - ORDER FOR SUPPLY OF ARMAMENT TO INDIAN ARMED FORCES

Source text: ID:nBSE31lz2h

Further company coverage: BARA.NS

(([email protected];))

Repeats story from February 14, no changes to text

By Nivedita Bhattacharjee

BENGALURU, Feb 14 (Reuters) - Indian conglomerate Adani Group is a finalist, alongside two government-linked groups, to take over private production of India’s Small Satellite Launch Vehicle, three sources familiar with the matter told Reuters.

The SSLV, developed by the Indian Space Research Organisation, is a low-cost vehicle capable of deploying satellites of up to 500 kg (1,100 pounds) into low-Earth orbit, or LEO - the most sought after segment of the satellite launch market.

After its first successful launch in 2023, the government moved to transfer the vehicle’s production and technology to private industry as part of a broader push to expand India’s commercial space sector.

That move has been the highest-profile piece of India's privatisation efforts, which the government hopes will help the country claim a greater share of the booming global satellite launch market, dominated by private players such as SpaceX.

“LEO is the name of the game right now, so the potential winner has the opportunity to really tap into a rapidly growing market,” said Damodaran Raman, a director at Deloitte who soecialises in space tech.

About 20 companies initially expressed interest in bidding for the SSLV, the first privatisation of its kind under Prime Minister Narendra Modi’s policy drive to open up India’s space industry.

The three finalist consortiums include Alpha Design Technologies, in which Adani Defence Systems and Technologies owns a stake; state-backed Bharat Dynamics Limited BARA.NS; and Hindustan Aeronautics Limited HIAE.NS. Reuters could not verify the exact structure of each bidding group.

The companies did not respond to Reuters requests for comment. The sources did not want to be named because details of the bids are not public.

The winning company is expected to pay India's space agency about 3 billion rupees ($30 million) for the SSLV, covering design know-how, manufacturing processes, quality-assurance training, and up to 24 months of technical support or two successful launches, according to one of the sources.

Beyond financial capability, bidders must demonstrate the ability to manufacture, sustain, and sell the SSLV.

A second source familiar with the matter said the limited availability of launch slots with major industry players such as SpaceX presents a significant opportunity for new entrants, with the possibility of positioning themselves as a go-to launch partner for South Asia.

The global satellite launch vehicle market is projected to grow from $5.6 billion in 2025 to $113 billion by 2030, with low-Earth orbit launches dominating, according to research firm Mordor Intelligence.

India accounts for only 2% of the global space economy. The Modi government aims to expand that share fivefold to $44 billion by the end of the decade.

Companies vying for the SSLV contract were required to be profitable, with the lead bidder having at least five years of manufacturing experience and an annual revenue of at least 4 billion rupees ($50 million), according to India’s space regulator.

($1 = 86.9500 Indian rupees)

($1 = 86.7540 Indian rupees)

(Reporting by Nivedita Bhattacharjee in Bengaluru. Editing by Gerry Doyle)

(([email protected]; Mobile: +91 9920455129; X: @tweetsfromnivi;))

By Nivedita Bhattacharjee

BENGALURU, Feb 14 (Reuters) - Indian conglomerate Adani Group is a finalist, alongside two government-linked groups, to take over private production of India’s Small Satellite Launch Vehicle, three sources familiar with the matter told Reuters.

The SSLV, developed by the Indian Space Research Organisation, is a low-cost vehicle capable of deploying satellites of up to 500 kg (1,100 pounds) into low-Earth orbit, or LEO - the most sought after segment of the satellite launch market.

After its first successful launch in 2023, the government moved to transfer the vehicle’s production and technology to private industry as part of a broader push to expand India’s commercial space sector.

That move has been the highest-profile piece of India's privatisation efforts, which the government hopes will help the country claim a greater share of the booming global satellite launch market, dominated by private players such as SpaceX.

“LEO is the name of the game right now, so the potential winner has the opportunity to really tap into a rapidly growing market,” said Damodaran Raman, a director at Deloitte who soecialises in space tech.

About 20 companies initially expressed interest in bidding for the SSLV, the first privatisation of its kind under Prime Minister Narendra Modi’s policy drive to open up India’s space industry.

The three finalist consortiums include Alpha Design Technologies, in which Adani Defence Systems and Technologies owns a stake; state-backed Bharat Dynamics Limited BARA.NS; and Hindustan Aeronautics Limited HIAE.NS. Reuters could not verify the exact structure of each bidding group.

The companies did not respond to Reuters requests for comment. The sources did not want to be named because details of the bids are not public.

The winning company is expected to pay India's space agency about 3 billion rupees ($30 million) for the SSLV, covering design know-how, manufacturing processes, quality-assurance training, and up to 24 months of technical support or two successful launches, according to one of the sources.

Beyond financial capability, bidders must demonstrate the ability to manufacture, sustain, and sell the SSLV.

A second source familiar with the matter said the limited availability of launch slots with major industry players such as SpaceX presents a significant opportunity for new entrants, with the possibility of positioning themselves as a go-to launch partner for South Asia.

The global satellite launch vehicle market is projected to grow from $5.6 billion in 2025 to $113 billion by 2030, with low-Earth orbit launches dominating, according to research firm Mordor Intelligence.

India accounts for only 2% of the global space economy. The Modi government aims to expand that share fivefold to $44 billion by the end of the decade.

Companies vying for the SSLV contract were required to be profitable, with the lead bidder having at least five years of manufacturing experience and an annual revenue of at least 4 billion rupees ($50 million), according to India’s space regulator.

($1 = 86.9500 Indian rupees)

($1 = 86.7540 Indian rupees)

(Reporting by Nivedita Bhattacharjee in Bengaluru. Editing by Gerry Doyle)

(([email protected]; Mobile: +91 9920455129; X: @tweetsfromnivi;))

By Shivam Patel

NEW DELHI, Feb 13 (Reuters) - India expects to sell short-range missiles to the Philippines this year in a deal worth more than $200 million, Indian sources told Reuters, for New Delhi's second major defence export contract with Manila as tension grows with China.

The Akash missile system developed by India's defence research body has drawn interest from the Philippines, which has told New Delhi it would make an order in the fiscal year that begins in April, said three sources.

All the sources spoke on condition of anonymity as the matter is a sensitive one.

The surface-to-air missile system with a range of up to 25 km (16 miles) was exported to Armenia last year in a $230-million deal, the sources said, adding that the Philippine sale is expected to be bigger than the Armenian deal.

However, they did not reveal the number of missiles and accompanying systems, including radars, involved.

India's Bharat Dynamics Ltd BARA.NS, the manufacturer of the missiles, was one of the exhibitors at last year's Asian Defense and Security Exhibition in Manila.

The company and India's defence ministry did not immediately respond to requests for comment.

A Philippine defence spokesperson, Arsenio Andolong, declined to comment on the specifics of any deal or on plans for procurement, but said the country's armed forces had "manifested it requires these capabilities".

The expected deal would follow India's $375-million sale of the mid-range BrahMos supersonic cruise missile to the Philippines in 2022.

The purchase comes at a time when Manila is building its military strength as tension escalates with Beijing on overlapping claims in the busy waterway of the South China Sea, where the two have clashed in recent years.

India is the world's biggest arms importer but is stepping up domestic production and boosting defence exports to counter China's military strength and influence in its neighbourhood after their troops clashed on the Himalayan border in 2020.

The Philippines' armed forces chief said on Wednesday the country was looking to buy more military hardware to modernise its arsenal, including additional BrahMos missiles from India and at least two submarines.

"We are getting more of this (BrahMos system) this year, and in the coming years," General Romeo Brawner said in a speech to business figures in the Philippines, but did not mention the Akash missile system.

(Reporting by Shivam Patel in New Delhi; Additional reporting by Karen Lema in Manila; Editing by Clarence Fernandez)

(([email protected];))

Feb 11 (Reuters) - Thales SA TCFP.PA:

• THALES ANNOUNCED ON MONDAY AGREEMENT WITH BHARAT DYNAMICS LTD ON INITIAL SUPPLY OF MAN PORTABLE AIR DEFENCE SYSTEMS TO INDIA

• WILL PROVIDE A FIRST SUPPLY OF LASER BEAM RIDING MANPAD (LBRM) VERY SHORT RANGE AIR DEFENCE (VSHORAD) MISSILES AND LAUNCHERS TO THE INDIAN MINISTRY OF DEFENCE

• INITIAL SUPPLY OF HIGH VELOCITY MISSILES (STARSTREAK) AND LAUNCHERS WILL BE DELIVERED THIS YEAR

• PRODUCTION PARTNERSHIP WITH INDIA WILL ALSO INCREASE UK PRODUCTION AT THALES BELFAST SITE, WHERE LBRM IS DESIGNED

• STEP CONFIRMS FOUNDATION OF LONG-TERM COLLABORATION AND MANUFACTURING PARTNERSHIP BETWEEN THALES AND BDL

Source text: https://tinyurl.com/4dx62pr9
Further company coverage: TCFP.PA

(Gdansk Newsroom)

(([email protected]; +48 58 769 66 00;))

Feb 6 (Reuters) - Bharat Dynamics Ltd BARA.NS:

• BHARAT DYNAMICS - DIVIDEND 4 RUPEES PER SHARE

• BHARAT DYNAMICS DEC-QUARTER PROFIT 1.47 BILLION RUPEES

• BHARAT DYNAMICS DEC-QUARTER TOTAL REVENUE FROM OPERATIONS 8.32 BILLION RUPEES

Source text: [ID:]

Further company coverage: BARA.NS

(([email protected];;))

Jan 16 (Reuters) -

• INDIA GOVERNMENT: SIGNED CONTRACT WITH BHARAT DYNAMICS LTD FOR SUPPLY OF MEDIUM-RANGE SURFACE-TO-AIR MISSILES FOR NAVY AT COST OF AROUND 29.60 BILLION RUPEES

Further company coverage: BARA.NS

(([email protected];))

Nov 14 (Reuters) - Bharat Dynamics Ltd BARA.NS:

• BHARAT DYNAMICS SEPT-QUARTER PROFIT 1.23 BILLION RUPEES

• BHARAT DYNAMICS SEPT-QUARTER TOTAL REVENUE FROM OPERATIONS 5.45 BILLION RUPEES

Further company coverage: BARA.NS

(([email protected];))

** Shares of Bharat Dynamics BARA.NS fall as much as 14.8% to 1,222.4 rupees, lowest since May 18

** BARA among top losers on Nifty Midcap 100 index .NIFMDCP100, which is down 0.27%

** Defence equipment maker said Q1 profit fell 83% Y/Y, rev from ops down 29%

** Supply chain issues on electronic components have hampered performance, said analyst at Antique Stock Broking

** Adds, issues seem to be receding, can expect normalization of supply from overseas vendors from 2HFY25

** Six analysts covering the stock have a "buy" rating on avg; median PT is 1,256.5 rupees - LSEG data

** Stock up 67% so far this year vs a 24% gain in the midcap index

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

** Shares of India's Bharat Dynamics BARA.NS extend losses, last down 9.5% at 1,303.4 rupees

** Defence equipment maker set to end session near Tuesday's level, if trends hold

** BARA closed previous session 10% lower when Indian stock market witnessed its biggest fall in four years

** On Wednesday, company's slump bucks strength in wider markets, where benchmarks surge on Modi's allies pledging support to form government .BO

** BARA among eight red members in 100-constituent Nifty mid-cap index .NIFMDCP100, which is up ~4%

** Analysts caution against capex-linked stocks such as infra, on worries over policy and reforms continuity after shock results

** YTD BARA has risen 53% vs a ~11% gain in mid-caps gauge

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

May 30 (Reuters) - Bharat Dynamics Ltd BARA.NS:

• BHARAT DYNAMICS LTD MARCH-QUARTER PROFIT 2.89 BILLION RUPEES VERSUS 1.53 BILLION RUPEES

• BHARAT DYNAMICS LTD MARCH-QUARTER INCOME FROM OPERATIONS 8.49 BILLION RUPEES VERSUS 7.97 BILLION RUPEES

Source text for Eikon: ID:nBSEbJjbSp

Further company coverage: BARA.NS

(([email protected];))

May 7 (Reuters) - Bharat Dynamics Ltd BARA.NS:

• BHARAT DYNAMICS LTD - TO INVEST IN A JOINT VENTURE ALONG WITH FIVE OTHER MEMBERS OF UP TO 11.7 MILLION RUPEES

• BHARAT DYNAMICS - CONSORTIUM IS BEING LED BY BHARAT ELECTRONICS

Source text for Eikon: ID:nBSE8jJWlS

Further company coverage: BARA.NS

(([email protected];;))

** Shares of Bharat Dynamics BARA.NS rise as much as 8.4% to record 2,083.70 rupees

** BARA last up 6.3%; reason for share move not immediately clear

** Around 4.6 mln shares traded, 4.5x 30-day avg. volume

** Analysts tracking defense equipment maker BARA rate it "buy" on average, same as state-owned competitor Bharat Electronics BAJE.NS - LSEG data

** BARA's 20% YTD gains trail BAJE's 29% growth this year

(Reporting by Nandan Mandayam in Bengaluru)

(([email protected]; Mobile: +91 9591011727;))

** Shares of Bharat Dynamics BARA.NS down 3.1% to 1,718.5 rupees

** Defence equipment maker said it recorded a turnover of about 23.50 bln rupees ($281.9 mln) for FY24, down 5.6% year-on-year

** Reduction in turnover is mainly on account of current geopolitical situation prevailing in Europe and Middle East which has affected the supply chain of the company - BARA

** Average rating of six analysts close to equivalent of "buy"; median PT is 2,010 rupees - LSEG data

** Including session's move, stock up 0.33% YTD

($1 = 83.3550 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

(([email protected]; +91 8805175330 ;))

April 1 (Reuters) - Bharat Dynamics Ltd BARA.NS:

• BHARAT DYNAMICS LTD- BDL RECORDED A TURNOVER OF ABOUT 23.50 BILLION RUPEES FOR FY ENDING MARCH 31

• BHARAT DYNAMICS LTD- REDUCTION IN TURNOVER IS DUE TO CURRENT GEOPOLITICAL SITUATION IN EUROPE AND MIDDLE EAST

• BHARAT DYNAMICS LTD- ORDER BOOK POSITION (PROVISIONAL AND UNAUDITED) AS OF APRIL 1 AT 194.68 BILLION RUPEES

Source text for Eikon: ID:nBSE1j3Xm1

Further company coverage: BARA.NS

(([email protected];))

** Shares of Bharat Dynamics BARA.NS rise 2.7% to 1,706 rupees

** Defence equipment maker said on Thursday it has approved stock split

** Adds, declared interim dividend of 8.85 rupees per equity share

** BARA trading above its 200-day simple moving avg since Nov. 10

** Average rating of six analysts covering the stock is "buy"; median PT is 2,010 rupees - LSEG data

** Stock up over 2% for the week

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

March 21 (Reuters) - Bharat Dynamics Ltd BARA.NS:

• DECLARED AN INTERIM DIVIDEND OF 8.85 RUPEES PER EQUITY SHARE

• APPROVED APPOINTMENT OF G. GAYATRI PRASAD AS CFO

• APPROVED THE SUB-DIVISION OF EQUITY SHARES

Source text for Eikon: ID:nNSE2Rg245

Further company coverage: BARA.NS

(([email protected];))

** Shares of Bharat Dynamics BARA.NS rise 2.8% to 1,711 rupees

** Defence equipment maker said on Wednesday its Q3 profit jumped over 61%

** Analysts covering the stock on average have a "strong buy" rating; stock currently trading at ~23% premium to the median PT of 1,387 rupees - LSEG data

** BARA trading above its 100-day, 200-day simple moving averages since Nov.

** Stock gained 66% during Dec. qtr, its best quarterly gain since June 2020

($1 = 83.1190 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

** Shares of defence equipment maker Bharat Dynamics BARA.NS up 6.2% to a record high of 1,479.5 rupees

** Stock set for biggest intraday pct gain since July 11

** Shares of co up in the past seven weeks, gaining ~44% during the period

** Stock has been above its 100-day simple moving average since Nov 24, when defence stocks gained on report of govt set to clear three projects worth 1.4 trln rupees ($16.87 bln)

** Trading vol is 2x the 30-day daily avg, tops 2 mln for the fourth time in Dec

** All 5 analysts covering the stock have a "buy" or "strong buy" rating; median PT is 1,387 rupees - LSEG data

** Stock extends YTD gains to ~57%

** Stock gained in every year since its listing in March 2018

($1 = 83.0070 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru)

(([email protected] ;))

BENGALURU, Nov 9 (Reuters) - Indian state-owned heavy equipment maker BEML BEML.NS reported a more than three-fold climb in second-quarter profit on Thursday as strong industrial demand led to better order inflows and lowered costs.

The company's consolidated profit rose to 517.8 million rupees ($6.22 million) in the three months to Sept. 30 from 162.6 million rupees a year earlier.

Capital goods companies have benefitted from the Indian government's push for higher capital expenditure in its last full budget announced in February 2023, before the next general election in 2024.

Additionally, commodity prices such as steel have eased, helping BEML lower its input costs by around 20%.

The company, which operates in the defence, aerospace, rail and mining construction and manufacturing segments, received orders from the likes of the Bengaluru Metro Rail Corporation and Indian Ministry of Defence during the quarter.

Its revenue rose nearly 14% to 9.17 billion rupees.

Peers Bharat Dynamics BARA.NS, Thermax THMX.NS and KEC International KECL.NS too reported a rise in profit last week.

Shares of BEML closed 2.02% lower ahead of results. They have risen 42.6% so far this year.

($1 = 83.2770 Indian rupees)

(Reporting by Varun Vyas and Manvi Pant in Bengaluru; Editing by Janane Venkatraman)

(([email protected];))

Nov 3 (Reuters) - Bharat Dynamics Ltd BARA.NS:

• INDIA'S BHARAT DYNAMICS SEPT-QUARTER PROFIT 1.47 BILLION RUPEES VERSUS PROFIT 758.2 MILLION RUPEES

• BHARAT DYNAMICS LTD SEPT-QUARTER INCOME FROM OPERATIONS 6.1 BILLION RUPEES VERSUS 5.29 BILLION RUPEES

Source text for Eikon: ID:nBSE98N03f

Further company coverage: BARA.NS

(([email protected];;))

Sept 19 (Reuters) - Bharat Dynamics Ltd BARA.NS:

• SIGNED CONTRACT WORTH 2.91 BILLION RUPEES WITH IAF

• CONTRACT FOR SUPPLY OF SURFACE TO AIR MISSILES

Source text for Eikon: ID:nBSE8k7gjY

Further company coverage: BARA.NS

(([email protected];))

Aug 4 (Reuters) - Bharat Dynamics Ltd BARA.NS:

• INDIA'S BHARAT DYNAMICS JUNE-QUARTER PROFIT 418.2 MILLION RUPEES VERSUS PROFIT 398.6 MILLION RUPEES

• BHARAT DYNAMICS LTD JUNE-QUARTER TOTAL REVENUE FROM OPERATIONS 2.98 BILLION RUPEES VERSUS 6.95 BILLION RUPEES

Source text for Eikon: ID:nBSEbNKSpg

Further company coverage: BARA.NS

(([email protected];))

July 20 (Reuters) - Bharat Dynamics Ltd BARA.NS:

• APPOINTMENT OF A. MADHAVARAO AS CHAIRMAN, MANAGING DIRECTOR

Source text for Eikon: ID:nBSE6rt69f

Further company coverage: BARA.NS

(([email protected];))

** Shares of defense equipment makers Bharat Dynamics Ltd BARA.NS and Bharat Electronics Ltd BAJE.NS hit record highs, rising as much as 18.3% and 4.5%, respectively

** PhillipCapital analysts initiate coverage on BARA with "buy", PT of 1,428 rupees; maintain "buy" on BAJE;

** Stocks among brokerage's top picks in sector

** Expects BARA, India's only surface-to-air missile maker, to see revenue for FY23-26 rise at compounded annual growth rate of 32% on order backlog execution

** State-owned BAJE's revenue CAGR seen at 15% through FY23-26; positive on order backlog, revenue diversification from non-defence clients - PhillipCapital

** BARA up 31.5 YTD vs BAJE's 28.8% rise

(Reporting by Nandan Mandayam in Bengaluru)

(([email protected]; Mobile: +91 9591011727;))