Bharat Dynamics has been doing well for the past few days, hitting new highs consistently. Today, the stock opened almost 6% higher at Rs.515.20 and went on to hit another new high at Rs.535.70.

The company announced that it has signed the contract for manufacture and supply of Konkurs - M AntiTank Guided Missiles, worth Rs 3,131.82 crore with the Indian Army.

This order is to be executed in three years.

Konkurs - M is being manufactured by Bharat Dynamics under a licence agreement with a Russian OEM.

With this contract, the order book position of the company now stands at Rs 11,400 crore.